biotech, very true. I did buy some INCY, mostly because PGS liked it and it had a lot of insider buying. But I sold before the big jump up. I had bought a few stocks like ADAT when they were 30 cents and sold at 1.20.
But I put 100% of my money long into the market, and I was thinking it might be a long time before it paid off. Maybe the market would go sideways or even lower. So I didn't want to risk both a finacial meltdown and biotech events, I wanted to be able to ride it out.
Buying things like DNDN in 2009 is very similar to buying leaps on the big caps, the risk is about the same and the gains from the leaps would have been over 100 times. But the risk would have been a almost total wipe out. I really couldn't risk that.
In retrospec I could have done 20% of the gambling and 80% safe stocks, the 20% would have more than paid off.
I can't say what was weirder, the 2000 blow off bull or the 2009 bottom, both were surreal. There were many stocks I wanted to short in 2000, but in 2000 you would get steamrolled if you went short. Just as I wasn't sure what companies would blow up in 2009.
I have read that sometimes it isn't good to be in the market for a long time, you come to realize how really crazy it can get.
Nice to see MNTA recover, maybe it won't get any more panic selloffs in this "new" market.
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