I love business models such as the razor and razor blade. That is one in which you basically give away the razor in order to get a annuity of sales from the razor blades.
One such product is the Apple (AAPL) suite of "i" products: iPod; iPhone; iPad. Except, in the case of AAPL, these products make money on the razor and the razor blades. The razors are the aforementioned products. The razor blades are applications or "apps", music and videos which are sold on the company's iTunes website.
The amount of apps out there is mind boggling. They outnumbers exchange traded funds (ETFs) and they are being created even faster than those securities.
Now my friend, Cody Willard, of Fox Business News fame, has built a website dedicated to apps. It is called AppConsumer.com
I gave AppConsumer a good kicking of the tires and was quite impressed. In fact, I posted my own Top 5 Most Used Apps List. I have appended that list here below. Check out the site when you have a chance. It will make you a better application consumer in a growing world of applications.
Used on an iPhone 3g, which I need to upgrade:
1. Bloomberg – I am a professional money manager and President of LakeView Asset Management, LLC . I need to be on top of the markets – stock, commodity, bonds, stock futures, currencies and news at all times wherever I go. The Bloomberg app is free and provides we with that instant access 24/7.
2. Gmail – When it comes to web based email services, GMail is the best there is to offer. Why should I invest in a Blackberry when I can just put the GMail app right on my IPhone. It allows me to have instant communication for business and personal reasons. Gmail is easy to use and does not require any third party servicing or contract.
3. MLB.com At Bat Lite - I am a big baseball fan. Have been my whoile life since growing up in Brooklyn when we used to play in Sandlots. Sandy Koufax was a local hero, as was Joe Torre. I played little league in the neighborhood where Joe Torre grew up. I am a devoted fan of the Yankees and use the MLB app to follow every game wherever I might be. It also gives me MLB news and standings in real time.
4. The Weather Channel (TWC) - My family has homes in two different states, our main house in New Jersey and a vacation home in upstate NY on Lake George. Weather is so important in the northeast for safety, recreation, school closing, etc. that having up to the minute and forecast weather is vitally important no matter where we may be. It also helps me on business trips out of town. I prefer TWC but I would note that my wife is a Weather Bug fan.
5. Shazam – I have over 2,500 songs on my iPhone. There are plenty more that I am missing from my catalog of music. Whenever I hear a song that I like or do not know the name, I Shazam it and get the artist and title information immediately. Then I can decide later to add it to my collection.It also has great links to YouTube and the iTunes store.
At the time of this Blog entry Scott Rothbort, his family and or clients of LakeView Asset Management, LLC owned AAPL stock and calls --- although positions can change at any time.
For more information on investing with LakeView Asset Management, LLC please visit the company's website
Posted By Scott Rothbort at August 24, 2010