Anavex Life Sciences Corp (AVXL)

[sokol]

Bio -

I agree there are many reasons to explain the insider buying issue. What’s more, Anavex’s employees are based in New York. Up until recently, I made frequent trips to New York for business reasons, and I had close contact with people that lived and worked there. It is difficult to live comfortably in the City unless you have or make a lot of money, even more money than Missling’s salary. I remember too that when younger I knew about very good investment opportunities because of my position, but I simply did not have the funds to invest even though I made a decent salary.

The insider buying issue for this small developing biotech I view differently from that involving established companies that are are profitable, can afford to pay higher salaries and bonuses, and where the insiders may be in a position to employ leverage to purchase additional stock in their company. However, if I were a banker (and I once held shares in a closely held community bank), I would view any loan request by an employee of this biotech company very differently from a loan request from an employee of an established profitable company.

Therefore, I am not concerned about the lack of insider buying at this point. It may be another thing to watch as the trials progress though, but I think that tracking volume as I discussed yesterday may be an earlier indication of how the trials are proceeding. By the time you receive the reported insider buying/selling numbers, it is usually too late.

I am not worried or concerned about this issue.