In drug development, observations don’t count.
But in investing in small biotechs, observations do count.
There are a lot of ways to skin a cat, but observatonal investing clues count a great deal if you are an investor. U are exhibit A falconer, bringing to bear you skills......
This is the stock market, as "the great man," the great Hyman Roth once said, this is the business we have chosen. In a perfect world, everybody would wait until the Ph 3 comes back, results are announced, and everybody dives in based on demonstrated science. And, (if we are correct as longs with anavex), we can all wait on our "pivotal" trials and buy avxl in a year at 80 bucks. As we try to outcompete the funds who are looking for their 20% per annum returns, chasing the price higher.
Every time I lose money, or continue to lose money, I come to the reluctant conclusion that perhaps I don't want to make money, don't want risk. ........ Then I start making money again. Can't cut it any finer.
Ya gotta make observations. Ya gotta listen to smart people too, like falconer and mayo, and others...Missling can afford to wait, being now a 7% owner, what's another 20 or 30 million to him, won or lost, but for us....
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