Biotech Values

[ilpapa]

the reality is that the burden of proof is overwhelmingly on the bull.

It doesn't work that way in real life.

The reality is that reasonable optimism (bullishness) morphs into cultism. A poster on another board commented the other day that he hoped that the subject company's success would not lead to an influx of cultists. I made the observation, without mentioning any names, that there were already posters on the board who could be described as cultists – my country right or wrong. I thought that was pretty innocuous, but the post was promptly deleted by the moderator – ironic, because the deletion seemed to me to be a good example of cultism itself – demurrals are sacrilege. Also ironic because the subject company happens to be one of my biggest positions.
That worries me because I've found over the years that there is quite a good correlation between the degree of enthusiasm on a board and my investment losses.