Final Results: 2007 Survey of 2008 Best/Worst Turnaround Stocks
Here’s how the top survey vote-getters for best and worst stocks, respectively, actually performed during 2008.
The 2007 picks for the best stock in 2008 were a mixed bag: IDIX and MNTA were big winners while JAV, GTCB, and DSCO were big losers.
The 2007 picks for the worst stock in 2008 were quite good insofar as all of the top vote-getters were down except ENCY, which was acquired by Pfizer.
AEN (formerly Pipex) was down a whopping 97% as the scam that the company itself has always been was exposed by the FDA’s Refusal to File letter. NFLD, on the other hand, eked out a single-digit percentage loss for the year with late-breaking news that the FDA did not issue the RTF letter that some investors expected.
Moral: In a bear market, avoid buying the stocks of bad companies unless they are going to be acquired! :- )
Thanks to all of the survey participants for participating.
Top vote-getters for BEST stock (in descending order of survey votes):
2008 %Chg To Date MNTA +62% GTCB -63% RPRX +13% JAV -67% IDIX +114% DSCO -48%
Top vote-getters for WORST stock (in descending order of survey votes):
2008 %Chg To Date DNDN -26% NFLD -5% DORB -65% AEN* -97% GENR -83% ENCY +176% (acquired by Pfizer)