My point is not that he CAN'T invest at all, ever, but that he likely has many more concerns than the ones people think about when they discuss why he is doing this or that on this bulletin board. Most of the stuff I see here, simply doesn't comport with reality for a fund like that or a person like NW.
In response to another post, I doubt very much he's doing a huge additional "investigation". He has to do his due diligence, and if he were doing an investigation, that would suggest a complete lack of confidence, in which case, his money should not be in that company, any company, where he'd have that level of distrust. He has a fiduciary duty to his investors. In that kind of instance, you'd sell and after sale, you'd not do more investigations unless you were suing, and typically it would not be one plaintiff, but many and a law firm, not the plaintiff doing the investigation.
My point is, that sounds more like fantasy, than reality. No doubt there may be some source for the speculation. But it doesn't sound real to me and it seems, given the many circumstances that would drive such a situation, like fantasy.
What would he do if he stayed invested while investigating suggested bad faith? If he found it? Would he stay invested? How would he explain to his investors staying invested for years, in a company he distrusted so much...? That would create a serious problem that no money manager would want. And if his fund allowed shorting, maybe he'd be shorting. But that's typically a hedge fund tactic, and very narrow types of mutual / UCITS funds that do that kind of trading. NW is not a trader, he's an investor. Much speculation that seems quite unlikely, fantastical and meaningless.
Two last key points. His funds look like they have some leeway to have some portion invested in a company like NWBO, or else he wouldn't have anything in there. So his peers were off-base. However, as I said, the notions that he would increase his exposure, or make efforts to save a portfolio company suggest to me a lack of sophistication in understanding the full complexity of the limitations placed upon a money manager like NW.
If he did it, I'd be the first to cheer, though I'd find it unexpected and think it really unusual. If he doesn't do it, I would not be surprised, in fact, it would be expected that he'd not be that active, honestly. If he ultimately sees that it's hugely undervalued, and clearly has turned a corner (i.e. results), then sure, he'd be foolish not to get in, if he had more capacity to do so. But also, again, they look at stats, weighing of their entire pool of investments, in different industries and companies, types and specific companies. So he'd have to look at all those factors before he put in another dime, even on the best case scenario. I just think people on the boards think he's just as obsessed as they are, and that's definitely unlikely. He has many more issues and concerns to weigh, far beyond the needs of this company, and specifically he must always consider the expectations, obligations, duties and regulations that bind him to his specific investors.
