The street is one of the worse MM's in this business. AF does hit jobs on good companies all the time. I'm sure he shorts stocks right before he wrights about them. Look at his continous hits he puts out on ARNA, because of his heavy interest on VVUS. AF's integrity is ZILCH, paid #$%$'er, His opinion is WORTHLESS. Wrote a hit job on ACAD, before it took off. We all know how that went.
It's so true what you say. I would take it all the way back to DNDN when I followed his advice and lost a boat load of money on a call option. He really is really weak on his accuracy. I too watched Arena and he was relentless but was also dead dead wrong. He was also dead wrong on ACAD, but somehow he keeps his job. If he were in a hedge fund he would be canned so fast his head would spin. He might be a talented writer but he is so bad at stock picking.
Also, he's not that informed. When talking about YM's anemia impact we should probably mention the improved hemoglobin that Galapagos saw in their recent Phase 2 study with their JAK1 rheumatoid arthritis candidate. There is something going on at the JAK1. I know Adam isn't saying it's not there, but just saying that people are skeptical with no additional colour is lazy journalism. He's not doing full analysis in my opinion.