Replies to post #183592 on Biotech Values

[linhdtu]

But that is one of the greatest coup for the sage of Omaha when he bet on American Express which at the time was on the hook( I can't remember why) for part or whole of the salad oil scam.

Part luck, part diligence and tons of gumption is how I personally see that historical story.

The requirements for success on WS remain the same for any retailer dabbing in speculation with individual stocks.

Also it reminded of Julian Robertson who said that "quality and integrity" of mgt is a make or brake decision for him.

Although it is hard for retailers to gauge the integrity of any mgt, I do try going by my gut feels lol.

[DewDiligence]

SLXP—The astonishing thing about yesterday’s CC is that management kept repeating the line that the accounting for inventory was done according to GAAP, as though that was what the problem was. The real issue, of course, is that management egregiously lied to investors about the amount of wholesale inventory during the past year or so.

[DewDiligence]

SLXP +6% on plan to accelerate inventory drawdown:

http://www.wsj.com/articles/salix-pharmaceuticals-to-clear-wholesaler-inventory-withdraws-guidance-1418733547

“The board and management have determined that the decision to accelerate the reduction of wholesale inventory levels, which reflects the views expressed by our largest shareholders, best positions Salix for future success,” the company said in a release Tuesday.

Salix said it plans to sell minimal amounts of its top-selling product Xifaxan, as well as Apriso and Uceris, to its wholesalers in the current quarter to meet its goal of reducing inventory levels to three months by the end of 2015—one year earlier than previously announced.

Sounds like BS to me. If this is a good idea, why did management need to be told to do it?