NorthWest Biotherapeutics Inc (NWBO)

[biosectinvestor]

Woodford had his own problems. He was unwound because he did not understand this segment of the market, AT ALL. It was about all of his illiquid and small investments. Some people speculate that the attacks started when he invested substantial sums here and that he may have been a part of that, which is hard to know. The one thing we do know is that he held onto his stock here through thick and thin, all the way down, and if he had believed, ultimately, that there was a problem, he had a fiduciary duty to preserve the capital of his investors and take back his shares and no amount of information or knowledge would prevent his fund from having the requirement to protect those interests and acting accordingly.

He said those things because he was saving face for his own mistakes, as shown by his ultimate downfall. He could spot value, he just did not understand the long journey from having a biotech technology to ultimately validating it. And he wanted to substitute himself, it appears, for LP. Ultimately, it is likely he would have just sold the company. That was not what the founders and most interested parties wanted with DCVax-L, so there was a divergence of interests it would seem. He lost the battle. Nothing came of it. Had he a case of any sort, I am sure something would have come of it. It was all about his saving face, and like I said, he held onto these shares until they were pried from the hands of his cold dead fund.

The reality is, had he understood this sector, like others, he would have watched and invested when it made the most sense. Some are up over 300% on shares bought in this 5 year period, mostly in the .14-20+ cent range. Investments in most biotechs during this period simply don't compete with that kind of return. And one could have been up much more, a 10 times and more, if one had sold at the highs of the last 2 years. But these stocks are very volatile and getting the full run is a worthwhile thing, and some prefer to hold than to trade, which has risks, creates large transaction costs and the reality is, traders simply don't do as well as longs who know how to invest and don't sell prematurely.