Amarin Corp Plc (AMRN)

[jessellivermore]

Jimmy....

I've lost money i biotechs...not very often...The only one that was truly an ambush was Genzyme Tissue Repair...In 1998..

They had a technique developed in Sweden where they took cartilage cells and grew them in tissue culture and then shipped them back to the doctor who somehow injected them back into the knee to correct bone on bone contact in injured knees...

It was being done by a Genzyme spin off so it looked very legit and it had verification from Swedish doctors...I started buying at $3 and an eighth with ten thousand shares, I margined up the hilt you could do 1/3 margin...I added a little more money...But the stock just kept moving straight up day after day...It seemed to never take a serious breather...It finally hit $28 and I was up one million dollars...And they had this huge blow off which my broker Bruce told me to use to dump my shares...

I sold all of it at the very top...And the stock started going down..I loved that stock and as it went down I had to start buying it back..I bought more back and it went lower...I ended up one afternoon my family on vacation in Disney world playing golf...And the stock dropped nine dollars and I lost like $500K...I was sick..An orthopedic surgeon from Boston called it a fraud...

I learned a very valuable lesson...I really did not do enough DD on the stock..I always wondered how they could inject cartilage into the knee and stay in place...I vowed never again to play a biotech that I did not know more about than anyone else..or at least find out everything I could about the science...

":>) JL