Most great investments begin in discomfort. The things most people feel good about – investments where the underlying premise is widely accepted are unlikely to be available at bargain prices. Rather, bargains are usually found among things that are controversial, that people are pessimistic about, and that have maybe have performed badly for a long while (look at the long term chart for AVXL - AVXL's stock performed badly for a long time). Sometimes it is uncomfortable owing AVXL stock. It is NEVER easy to do things that entail discomfort, but being uncomfortable comes with the territory when investing in new ideas.
Most people do not like change of any sort, but you need to invest in something different to make real money.
Bob Farrell said something that not only applies to the stock market generally to everything that goes on in life. The stock market reflects sentiments of how particpates, people, react. As Bob Farrell observed:
“Change of a long term or secular nature is usually gradual enough that it is obscured by the noise caused by short-term volatility. By the time secular trends are even acknowledged by the majority, they are generally obvious and mature. In the early stages of a new secular paradigm, therefore, most are conditioned to hear only the short-term noise they have been conditioned to respond to by the prior existing secular condition. Moreover, in a shift of secular or long term significance, the markets will be adapting to a new set of rules while most market participants will be still playing by the old rules.”
Do you dare to look wrong. Any new, innovative, revolutionary idea has to go through the stage of looking wrong because you are doing something that no one else is doing. Real money is not made by doing what everyone else is doing as Howard Marks, one of the most successful investors known, knows.
As Theodore Roosevelt said: “It is not the critic who counts...never be with those cold and timid souls who neither know victory nor defeat.” If you are of the opinion you have the goods when it comes to treating multiple CNS diseases that combined may be "priceless" - too valuable to imagine - load up the wagon and go for it. In the meantime, do not worry about the short term or those that are so short sighted they are incaplable of envisioning the transformation that may result from a drug or drugs that may have major monmumental positive conseques. Anavex should go to war on CNS diseases, take all of its weapons, load up the wagon, raise as much money as it can, and go for it! Think long and think big or go home. Damn the torpedoes!
