NorthWest Biotherapeutics Inc (NWBO)

[thermo]

The problem is he doesn’t have skin in the game. He makes a living writing. I’ve made mine investing. Our objectives are different.

When was the best time to invest in NW so far? It was a bit after the enrollment hold and the exit of the UK institutional financial backer. AF and others like him were triumphant. Glasses raised; reputations boosted.

The valuation at that point implied a probability of success of less than 5%. I didn’t know the eventual outcome then, but I knew that probability was a lot better than 5%. It was the perfect time to invest. My lowest purchase price was $0.14 per share, I believe.

If we would have debated then, he might have said, “I’m right, I’m right, I’m right”. I would smile and proceed to go make a lot of money. Who won?

I don’t care about winning debates.