Well that's not very nice... To be fair there was a ridiculous amount of hype 'FDA will reject' and bashers going crazy yesterday... I could see how he would think that. That said if you're just following what the investment bloggers and newsletters tell you, obviously you'll want to do research... If you're under thirty like me you can afford more risk [like this one]. I've done some speculative buys with relative success NSPH in the 1.47 range [though bought a bit higher later so less profit, still holding] swings on NBS but lost patience, and recently did some anchoring, bought APPL at $405 because it seems way undervalued to me. Most important thing is don't invest more than you're willing to lose. Land, real estate are also good at this time.... investment properties and interest are so cheap right now it's ridiculous. One more year and my husband and I are getting into that. [He's finishing engineering so not sure where our final settling place will be.] And btw I'm a teacher... you can do a lot with a little if you keep yourself informed.
If you want to learn about biotech read the meeting documents and watch the adcom meetings tomorrow both are listed on the FDA web site. As scalpelx noted, you are not ready to invest real money in biotech if you think FDA said no yesterday. Watch and learn, then start small and slow. Watch the stock move after the meeting is concluded, or during and after if it's now halted. Most of us learned biotech investing the hard way, by losing money for a period before making $, so if you are smart you will start slow.