"Investing is about buying low" The goal posts on what is low keeps moving, that is the problem with buy low and hold. I feel bad for Dew (DD) as his intentions are very good, the mantra of the board [avoid...], purchase with growth potential, it is all good, but the macro variables affecting stocks are deteriorating. I am certain that rich people will have money for glabellar lines and crow feet therapeutic interventions and someday the therapuetic use in CD and any other condition where botox is used, all sorts of musculoskeletal disorders may be possible, but for now buying low and holding is only for those who can afford to be underwater for an extended period. One of the big arguements for RVNC was that people world wide will have more money and will want to look good, I think the world is moving toward a state of just holding on to what they have for as long as they can.
The goal posts keep moving for RVNC, ENTA and many other biotechs 2B+ was probably what most were thinking as an early growth prospect valuation, now the chatter is 1B. Any correction could be long off and until then "holding the bag"