True enough. Bruce Kovner is a famous and successful trader. I have read extensively about his principles and philosophy of trading. I have been stumped by his continuous buying of snta even as it keeps diving ,contrary to his risk management principles. I can't help but thinking even for Kovner, there must be some emotional and psychological reasons for him to ignore his own trading rules. He surely didn't accumulate a big personal wealth by piling on and averaging down on a losing proposition.
Kovner is an eccentric reclusive billionaire who made his fortune in the commodities market -no biotech background....$662K would be pocket change for him.
Franklin Berger the IMDZ director is/has served on several biotech BODs and was previously a senior biotech analyst for JP Morgan. Agree it's not a sole reason for buying but looks like a pretty big bet by a seasoned biotech veteran.
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