Biotech Values

[10nisman]

MNTA

A 10 year old would understand that, but people on this board are telling me the the market is pricing MNTA efficiently. That defies common sense.

So if the market doesn't price a company efficiently every day of the year the market is corrupt? Remember 1999 and the .com bubble when companies were priced at ridiculous multiples. Was the market corrupt or just plain stupid (inefficient, irrational, etc.)? I go with stupid and completely irrational. Fast forward two years and the market become smarter and eliminated most of the insanity.

In MNTA's case... it was trading at $30 in 2005 and as low as $5 in late 2008. Were those prices being manipulated or driven by investors who were unduly optimistic and then unduly fearful? Looking at MNTA's current share price we have a group of longs (myself included) that think MNTA is worth a lot more than the current share price and a group of shorts that think the opposite. Fast forward 12-18 months and I'm sure we'll know who was right.

10nis