Biotech Values

[DewDiligence]

I find your post amusing in the way make it sound as though buying low were a novel idea that you came up with. For what it’s worth, I picked up all of my original MNTA shares very cheaply in Nov 2007 when the share price was cut in half by the non-approval of the Lovenox ANDA, and I’ve done only a little trading around this core position. I had done my DD on MNTA and had followed the company closely since 2005, but I considered the valuation too rich until the Nov 2007 drop. When the drop finally happened, I was ready to pull the trigger on a large purchase without hesitation.

I’m comfortable holding a large position in MNTA, and I don’t care that much about the day-to-day movements on the tape. Because I don’t use much margin, I’m able to pay scant attention to the tape and devote my time to more productive activities.