For him to have had to do that means he was likely taking some flak from holders in his fund about placing such an increasingly large bet on a speculative biotech like NWBO. But behind the scenes and to the bigger holders he was prob like "No worries, our cost basis is $6.60 and there are plenty of stops in place and even puts in a worse case scenario. We're hedged fellas. I can even short as well as lend out shares to short and pull the trigger slow and get half that back without disturbing the pps very much just to repurchase and lower our cost basis in the process. Done a few times over this year and we're significantly de risked. Look at how we already moved the pps around at will. At worst it fails and we lose a little money after repositioning a few times, at best it succeeds and we bring a triple digit % your way. We're on top of this."
At least that's more likely than the knight in shining armor with no stops and no puts and undying confidence in DCVax picture willing to lose $70mm (on a 70% crash if the Ph III fails) you guys are portraying. This is business.
And it's also high risk. If you're putting up a sum that would hurt you to lose I hope you have a trailing stop loss or grab puts at some point. At least before Ph III data come out.
No one is sure. Certainly not Woodford. It's all math and smart positioning. Odds say over many times you show a healthy profit. But beware of variance. Woody knows all about that though I'm sure. How bout you? You think you're following smart money but your trades and your absence of hedging are nothing like theirs.
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