WMG2, Over the years, I've never been able to stay invested in Cortex for very long, since I was often using borrowed money and was therefore too nervous about it. I would jump in and out a lot, but mostly stayed parked in cash. If it wasn't for that I would have gone down the tubes long ago. So overall I probably broke even on Cortex over the years, even though I still managed to lose money in other ways (getting back into tech related funds too early was my big mistake).
In 2006, I did make some bad calls on Cortex, but luckily stayed out of the stock -
1) ADHD results - I was extremely wary, which turned out to be wrong, though based on that trial design, being wary still seems like the most logical viewpoint to have had.
2) DARPA results - I was very confident, which turned out to be wrong.
3) Clinical hold and aftermath - None of us saw the hold coming, but I was right about the aftermath, so far anyway.
So I guess the moral of the story - if biotech is just a hobby, it doesn't matter how good your individual stock calls are. If I can be a "contrary indicator", I'm glad to be of service :o)