Re: Gilead Invincibility Block
Your post is an illustration of the double standard in perception on matters pertaining to GILD—a phenomenon I’ve called Gilead Invincibility Block.
If GILD had been the one who negotiated an exclusive deal with ESRX, locking out ABBV in return for an undisclosed discount, investors would have hailed it as a brilliant tactical stroke. However, when ABBV does the same thing, some investors say they shot themselves in the foot.
Nothing could be further from the truth, of course. Such talk is mostly sour grapes by people who lost money betting on GILD’s invincibility.
“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”