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This is exactly right Sentiment_stocks. I've emails with my various brokers confirming this with my accounts. I'd still confirm it in email, just in case there is any doubt that it is universally the position of every brokerage. But that is exactly what I understand to be the policy at every broker with which I have accounts and shares.
I agree. I think the Cancer Moonshot Program is bipartisan and will have the full support of any administration. Who is against curing cancer and taking credit for it? Um.. no one.
Link please.
I would expect his general counsel would put the quash on that move.
1. who is this person... not sure if this is unfounded, but if that's what you believe, good for you. I think Adam says that too.
2. I don't think anyone thinks that is the only issue for the company, but they do know that such wolf packs exist and likely have seen it across multiple companies over many years, as I have seen.
3. Adam is almost always somehow, tangentially or directly, involved in panning those companies, often companies with top technology and scientific backing. He almost always suggests to the ingnoratti that there's nothing there and it's a POS. Then some anonymous and fake entity appears, with identities hidden, that attacks said company.
It's a repeated pattern. Hard to say there's no evidence when this happens over and over and over again. And only stupid people who do things over and over and over again expect not to eventually go to jail or get caught and exposed. It's a regular feature of the real world. Criminals are always careless and fundamentally, even when they have some good tools that help hide their identities, they are usually fundamentally stupid.
'Biotech-Israel-fund' I agree. I would not be surprised if there were not more here than meets the eye, and I would also not be surprised in regards to the shorting at some point that there was some sort of multi-jurisdictional investigation in process, over a number of years, involving multiple companies. Such processes usually survive changes in administrations.
When this kind of shortage gets tough, sometimes they really crash the price to shake out liquidity of shares from the weak hands. Watch out. I've seen it happen, over and over again.
They probably would not "see an investigation". However, if the SEC has become curious, they can seek reassurances from the brokerages that they have the inventory of shares required, and confirm that they are following the rules and regulations There is incredible regulatory scrutiny right now on broker-dealers. Half of them don't even know where their next violation might come from because they are so sloppy knowing ALL of the details on how they follow the rules. In the past, they just had to know enough to say their spiel, that allowed them to believe, and the regulator to believe, that they knew what they were talking about and they were following the rules. Now, everyone is drilling deep and lots of holes are being found at many levels. The broker-dealers and banks hate it. That's why they are happy Trump will soon call off the dogs. Back to how they've always operated, loose and free - with no scrutiny.
I had a conversation with my brokerages on this very point. Putting in a limit order to sell won't stop them, I was told, from loaning out shares. The key thing is either 1) not to have them in a margin able account with margin drawn down; or 2) put in writing, in an email, via their client messaging services that you don't want your shares to be loaned out to shorts, and then they have to answer you. They will tell you if that is happening and why... if it is happening. Or why they can't do it, given your account set-up.
It's important not to assume the stories on the web are true about what makes what happen at any brokerage. It could be that different brokerages have different rules, certainly. But that's what I was told at my various brokerages.
I also think, a good bit is completely unknown except to the people closest to the back end. There are a lot of people in these businesses, at a high level and with direct customer contact, who sling incredible BS and don't have any idea of what they speak.
I would not be surprised if, via any prime brokerage activity to funds, and securities lending, they have large liquidity positions that might not fit the legal description of naked short positions, but upon scrutiny they might or might not, appear to be such positions. But generally, there is, by nature of any financing function like that, a kind of multiplier effect, just like how the bank multiplies your dollars, by lending them out to someone at the same time they claim they are in your account. It's not as tightly controlled, I believe, as the SEC suggests in their comments in response to questions on these sorts of issues, and I think they know some of that liquidity is a part of the market making process.
And the fact is, those positions typically roll over every morning, so, the notion that there is a restriction is sometimes defeated by the practical reality that underlies the rule.
And Goldman Sachs got fined a year or so ago because their systems skipped a critical part... actually getting the shares. The system told the clerk putting in the trade that they HAD the shares, but they never actually GOT the shares. Whoever put the back end and screens together, probably did not know the full process and someone along the way had a brain fart or intentionally avoided putting 2 + 2 together, for the purpose of making it more profitable for Goldman. Whatever the case, they were fined for it. Effectively, those were naked shorts though they did not show up anywhere in any systems.
I'm excited to see the results. I also think they will be dong analyses that they did not previously do, based on the latest science. IF they break out the Mesenchymal type GBM patients, which were the ones least likely to survive, previously, I suspect they will have very good results.
I think they will very likely find excellent results if they break the patients out into the main types of GBM tumors. And in that context, that also may have been what they've been discussing with various regulators during this time.
Just my opinion.
I agree, though I believe for now, he would not likely (though not absolutely) be able to invest more from his regulated fund, generally. Validation and a pop will certainly change the analysis and calculation.
I saw AF write that too, and I almost fell off of my chair!! Or I would have, if I were not reclining... :)
OK. That's your view. I see a guy who intentionally does in tiny companies with a following of acolyte shorts that help make it happen. Again, my opinion.
I think you're absolutely right. Though I think the FDA should likely be expediting, and I think it's bipartisan that that will continue.
1. It's not a hedge fund and this is not the focus of their funds;
2. I think really experienced investors recognize the vulnerable nature of start-ups with revolutionary technologies that need shepherding, and the dangers of what you suggest. Sharks do what you say, sometimes, but not always. In this case, I don't think that would have been the best thing to do. I don't like takeovers myself, with companies like this. It usually ruins just about everything, though you can rescue some cash out of it.
I'd rather my companies fail or succeed on the purity of their efforts. The successes more than pay for failures.
Hostile takeovers usually are followed by clueless executives and replacement scientists recruited from the bottom of the heap. That would not advance the science, nor the cure, and I think they'd be hated in the biotech community if they did that too often, or even once, with a company or technology as closely watched as this one. Their reputations would suffer. And I don't think they think it's necessary, or has been necessary.
Of course, they might change their mind once the tech is proven, but I sincerely hope not. I think, given the structure, it would not be ideal, though I also think they've structured the assets and company such that a hostile takeover is less likely than a friendly one. I don't always love those either. As I said, I like the pure and full ride.
Thanks doingmybest. I enjoy reading your posts! Also many others as well!
Yes TiltMyBrain, the man who lectures us all, works for a crappy scam of a company that lures investors with no potential for any real profit whatsoever. Ironic. :)
Thanks pgsd! I seem to have posted that around the right time. Of course, those efforts are global, and involve many players. Moonshot is not just the US. And it looks like others are also inspired by the efforts. This combination therapy is pretty exciting and I hope they have great success. For now, NWBO has a few short-term hurdles to get over, and hopefully some other great news just ahead.
Thank you John! Wishing you and all of us success as we hopefully see some results and hopefully see the program continue after the handoff.
Thank you Joey. Of course nothing is a guaranty. They are going to focus on the best efforts and get them moving as fast as possible, given all manner of constraints, including that some in charge of those promising methods may have barriers that government can't immediately help, and can't now with the changeover.
But I have no doubt that these things are happening, that it has been beneficial so far for the industry and the way people think (and I hope progress continues under Trump, but he can't figure out who all of his appointees are, hard to know if that will play out well or badly).
I think they all know about NWBO and are hoping for its success. This is a global effort, and one cannot discount the likelihood that even the German trial can be and maybe has been expedited because of that program.
Of cours that doesn't change the fact that it is the companies, universities, executives and even investors who do the heavy lifting. The agencies must be receptive and help facilitate where there are barriers. But the rest of the hard work really rests with the companies and other participants in the effort, at universities and hospitals. Lots of pieces to keep moving. Let's hope they succeed for NWBO and for similar hopeful efforts.
Good luck Joey!
Just my personal opinion:
Correct me if I'm wrong Adam, but my understanding is that you are not a scientist. You have no degree in the sciences, as far as we know. Neither have you received a journalism degree. You studied political science. Is that correct? Your only claim to fame is a paper you claim to have worked on many years ago that you think validated the intelligent market hypothesis...
These bulletin boards, here and elsewhere must be a critical piece of making your muck raking columns where you cast aspersions on tiny companies and the people associated with them, by way of publications, bulletin boards and social media. There are lots of us who have understood this for years, though governments are only now starting to understand their power. Now you cannot only shake companies and individuals in a bad way, but entire countries. Good stuff you're doing Adam.
I would not be surprised if you needed some help sleeping at night. Either that or you have no conscience, given the evil you do, in the false name of supposedly exposing bad companies.
That's cute.
LOL!! Why are you attacking Larry Smith now?
You're so sad Adam. So sad.
Yes, the companies can really appreciate the initiative of the universities and schools that organize these, but sometimes the organizers are not all that together. That's hard to believe in terms of the Germans, but I've seen it more frequently here in the US, at major universities. They will start to organize a trial, and maybe through inertia, it can take a really long time. My experience with the organizational skills and institutional rigor of the Germans is that this is less likely there.
I think the key is to keep one's eye on the ongoing, company driven trials, including, for now, the Phase III GBM trial especially. And let's watch out for more announcements on combination therapies, because I suspect that more are in the works.
Next issue to resolve though, is their barrier from issuing shares. Whether it's a delisting or something else, it's hard to know. But I suspect something may be in the works that we won't fully anticipate. Their situation with NASDAQ is not an easy predicament, but I believe they will trudge through it and work it out. There is usually a workable solution to anything and there is far too much here to give in the to the pessimist's meaningless rhetoric.
Nonsense. Great ridiculous political rhetoric but nothing like what is really happening.
The bad people, are the AF's and the fake "hedge funds" LOL, that they enable to manipulate these companies and undermine innovation and the normal operation of capitalism. Those people are not really Wall Street, though they pretend and preen as though they are, but are something much, much closer to the boiler room criminals of old, who once used phones, but now use keyboards. They don't sell investments, they use volatility instead, and they injure real investors and the youngest companies that they can exploit and undermine. That's who people should be fundamentally focused on with their anger. The real Wall Street elite don't even know any of this exists, and they don't care about any of it. It has nothing to do with anything they do on a daily basis.
No, the exploiters, in the tiny seams and crevices of the Internet, who write scurrilous things about legitimate companies and attack them, swift boating them and their executives, for profit, are not much more than arsonists, thieves and economic terrorists.
Thank you Sentiment. That's a very helpful explanation of how NORMAL trials are done in Germany. It seems that a surprising number of ID's here might suggest there was something not so great about the plan for NWBO's investigator initiated trial. But I am seeing there are lots of factors that suggest that it's a pretty solid and exciting development. Thanks for your work here!
This was a perfectly positive announcement not crafted to manage your expectations or make your day. It is a very positive event, it's just not about managing expectations, but advancing the science and technology. There is no actual reason to spin it negatively, and that the market went down, isn't particularly surprising, regardless of the nature of the news.
No, it was not a joint venture. It was news. Good, solid, news that shows that the technology is taken seriously at a major cancer center in Germany and that people want to see if it will advance the current options with a fairly large indication that has a fairly tough prognosis.
Repurchase Agreements are a very particular kind of agreement. It's one way institutions deal with one another in large amounts that provide maximal protection for their assets and also liquidity. Typically though, they are just for government securities, like US Treasury instruments.
Prime Brokerage services are also a part of those relationships. I don't have time to look at it, but it could be some of those things going on here. While you're right, shady things can happen and be bundled into such services, it's also very likely that most of that is just ordinary, run of the mill financial transactions that broker-dealers do with other financial institutions. I have often suspected, however, that what people think of as naked shorting, is probably some ordinary aspect of these processes, where just like the money supply, when you borrow against stocks, it effectively increases the "share supply" in any given company. I suspect funds of various sorts are borrowing on their portfolios all the time, to maximize their returns.
Very interesting though. Thanks for looking so deep. If I can, I'll try to take a look at it later today.
https://www.google.com/#q=repo+agreement
https://www.google.com/#q=repurchase+agreement
https://www.google.com/#q=prime+brokerage
They have lots of individuals trading small chunks of change in various companies and opportunities. Nothing is too small if it generates a big percentage return and has a good probability of success. Driving people out of any tiny biotech, even a potentially very successful one is child's play. This is why these stocks get so much play. It's also why they are both profitable on the downside and the upside. These people want to take your money, so you need to know when they are playing with you, or when they are full of crap.
And while they often are wrong and don't always win, one thing to be cognizant of is, even if they are full of crap and lying through their teeth, even if you know that is the case - they can still win. Winning isn't, unfortunately about truthfulness, it's about creating the trend and playing it all the way out.
So the managers of a company like this, they have to be good too, they have to know who they are up against and how to best play it, and they need to avoid, as much as possible, dumb mistakes. Unfortunately, that's not always possible as there are many potential types of mistakes one can make, and one can make some of the biggest mistakes trying to fight against these kinds of bad people. Most managers should keep their eye on the ball, most of the time, while strategically trying to box their shorts into a corner. Instead, things often go the other way. Again, even if the shorts are wrong as h3ll. They can usually find something to make a lot of noise about.
Hopefully our heroes have a plan right now.
Agreed. Apologies if you thought I was blaming you. I blame AF. I was only clarifying my view of that point, that AF made.
They look for prices they can control with incredible levels of volatility. So you're actually wrong on that account. This is a perfect stock. Microcaps and small caps are where they do most of their damage. They can move these puppies with ease. Though they can also, theoretically, given Kramer's great video from years ago, move Apple, the "alpha" is nowhere near as great. They need companies that they can really destroy easily, then rebuild for a while and then destroy, driving the little penny stock investors before them in fear and then in greed.
For them, it's easy money that accumulates, over and over again. For individual traders at a hedge fund, they develop specialties, like a particular stock or segment of stocks, and that is all they do, all the time, 24/7/365.
She once worked there, but was not connected to any wrongdoing. To suggest that all employees who have ever worked at a company have to do with what the top executives did to enrich themselves, is to fail to comprehend what the "Enron" case involved.
She'd have to be completely idiotic to have worked there and then stepped into a CEO role to do the same thing at a biotech. It has nothing to do with this company. It's a baseless slur intended to mislead everyone and anyone.
That's what shorts do. Shorts that do this kind of attack are at least of the same character and nature as the worst people at Enron. It's very similar fraud.
No, generally no one sues for these. But it would make his column uncredible to thoughtful people, I have no doubt. Not that it matters since he mostly targets retail investors, day traders, penny stock investors and people who generally have reason to be very alert to any suggestion of anything bad.
That's how many of those people actually make money. You can count on fear as a pretty bankable emotion. It's unfortunate for us longs who want to do good and invest.
A huge beating and not a lot of volume. Yesterday there was quiet a lot of volume, and it barely moved. Today, not much and it's moving quite a bit. Probably not much buying at this moment yet. Day traders getting out to avoid being trapped back in.
This is something you would not dare say in a column, but say on bulletin boards. I think it speaks volumes to the nature of your columns and your approach. The only reason people wouldn't sue someone for that kind of libel is that it brings more attention to the slander than it's worth.
But the more you write such things, the more you discredit yourself.
Adam Feurstein:
1. I doubt it's a true story that he lost "all of his money" on Enron;
2. If he did, then he is far worse as a prognosticator of investments than I thought. I saw Enron coming from many million miles away.
This company has absolutely nothing to do with "ENRON". More of Feurstein's nonsense. And when you give his nonsense, any discussion at all, you revive the lie that he spread to ensure that false fears and nonsense would keep capital away and make his predictions about "small companies" correct.
He's an unsavory character who, rather than cleanly protecting our markets, represents exactly what is wrong with them.
This is very funny! Really! The wheels are slow, but I suspect you're and the crew you connect to are the ones.
I doubt posting on bulletin boards, whether under your actual name, or others, is really smiled upon. It's not illegal, but not really kosher either, for a "journalist." It's a kind of activism that is intended to bolster your reputation by making a prediction, seem real. And they are predictions, according to your own posts that originally are not based upon the frauds you frequently allege, wrongly, but upon your flawed research paper based upon a flawed version of the long, mostly discredited, "efficient markets" theory of investing, which of course was so great at predicting the financial crisis of 2008.
Hi Evaluate,
My apologies, I rushed my answer then, as I was not in a good situation to post at that moment.
I was trying to get AF to respond and give us a link to his past "prediction" that he is claiming was exactly on point. I'd like to see it. But thanks for your question as well.
I agree that they are somewhat vague in their PR, though they talk more about Direct than DCVax-L, and they are focused on Phase II. In this instance today, it was a Phase II for DCVax-L, so I think your assessment, in hindsight, is solid. But I want to see AF's prediction.
As to whether it is with BP and Direct or not, I think people also read that PR in the context of having seen the video lecture or talk that included Dr. Prins discussing their potential combination therapy prospects, and that they had certain intentions.
I agree that they implied that they were working on approvals to proceed previously.
Again, despite the negativity for all things American regulation, versus any other jurisdiction in the world (with socialized medicine, by the way) as being good... which is not really consistent (not you, others), I think the cancer moonshot program is why some things seem to be moving smoothly and why I think expediting measures are occurring earlier than they might otherwise, in a product development cycle like this, in the past.
On your other points, my apologies but it's late so I'll just get to each point:
1. UMC could be a "party". There's no reason to assume not, that I can think of.... They are the sponsor of that trial, and MSD Sharp... is certainly potentially a party. I don't see an issue there.
2. I doubt they would announce this if they did not know to some degree, already, that they had a receptive ear from the relevant manufacturers. A law firm would have potentially smoothed that, but I expect that they've been focused on this for some time.
But again, I was really just focused on getting that earlier prediction from AF, or so he said. Thanks for taking a moment to exchange some thoughts.
1. Could you link to the post Adam? I'd like to read exactly what you, in fact said.
2. This trial was unanticipated by you and everyone because it involves DCVax-L, is in Germany, and involves colorectal cancer. It's not a part of the original PR, a few months ago, which was for the DCVax Direct product. That specific information that was PR'd has not ever been pulled back.
So I think you're just bs'ing here that you know everything. We know you don't know everything and you're not much better off than an average investor, and maybe worse off given that you've got to protect your reputation and past predictions every time something unexpected happens.
But if you'll just present that link, that would be fine.
Thank you very much kind sir!