Replies to post #149160 on Elite Pharmaceuticals Inc (ELTP)

[no2koolaid]

No...Now we need word that Elite has begun their P-3. Anything in your charts about that?

Now, you must be wondering why I seem negatively positioned vis a vis charts. Certainly it is not that I fail to grasp nor find the use of data/statistics valuable. No, anyone who works for a data driven organization understands their value. What is cautionary is to rely solely or too much on the data. Here is why. I have said, ad nauseum but perhaps you are not aware, that I worked for a Fortune 40 company. We relied on data and if you did not understand finance and how it worked you were gone in a heart beat. However, there were those who focused solely on the numbers, irrespective of a wealth of other factors. To make this long story short, one time the company invested $1 Billion (yes, one billion dollars) on a product launch predicated on data. The problem was the data was skewed. It was taken from a skewed population, sanitized, and delivered as if representative of the entire population. It was not and the product launch failed. A number of senior executives were replaced because of their data blindness. Well, that and the fact their bonuses were predicated upon the product launch; not whether the product was launched and turned into a success (as determined by a recovering of the one billion dollars plus a fifteen percent IRR hurdle; yet another systemic failure in the use of data). Sorry if I belabor the point, but it is something investors should consider. There is a reason that what businesses do to create success are called fundamentals, not technicals.