Anavex Life Sciences Corp (AVXL)

[Investor2014]

The point I am making is one of managing risk/reward ratio in a portfolio.

I agree you cannot determine a specific chance of success of any one biotech/drug/indication, only a probability assignment to each and the likely reward of success.

If done well the portfolio gives a positive return.

Now I hope Anavex succeed for all those CNS patients who could benefit, but from an invest perspective I don’t care which specific investment in my portfolio are the winners and losers.

The one thing I am sure of is that I can’t win with them all.