The Stock Market is a machine for transferring wealth from investors who trust to luck to investors who understand their investments.
And continually averaging down in a biotech in the hope of getting lucky has been the ruin of many a gullible investor.
From the Genta board a few years ago -
"Time to buy?
Good to average down, especially at these prices,but I suspect lower.
I bought last @7.19, hoping for a trade and a rally,GNTA really never saw it.
Is our bear market rally over? Friday suggested it might be, if volume confirms this week, then have cash to buy this gem.
Still a news driven biotech, there is always chance of a quick bubble to make money also but I stand by my... buy it, tuck it away, don't look!,come back in 2 years
Good Luck to all Longs"
"The stratagy works because it is after the fear,the shorts and the ride on the biotech rollercoaster.(NDA,FDA etc)
Analysts ability to "move" a stock will be overtaken by what will be the marketplace in 2 years.(look at post 70's bear market for historical perspective) A marketplace of valuations and earnings.
GNTA IMHO will have them....soooooooooo But it tuck it away dont'LOOK !come back in 2 years
Good Luck to all LOngs"
Does anybody here think the "Good luck" sign-off seems vaguely familiar?
GNTAQ is currently trading at $0.0001. Doubtless Terry took full advantage of the numerous opportunities to average down as he rode it from $7.19 to $0.0001.
So when a leading contender for the title of Worst Investor in Biotech offers the following warning about Insmed -
YTD 25% "the short since 7.81......next stop $4"
- give serious consideration to buying as many shares as you can possibly afford.
I know what you mean - but you need to consider the possibility that much of what's obvious to you sails straight over Terry's head.
Does his track record in biotech seriously offer the slightest clue that he can recognise a major opportunity when he sees one?
Terry, what do you imagine insm_truth_teller thought he was doing spamming the board with ten posts yesterday morning in a twelve-minute period from 8:23?
I didn't want to hurt his feelings by putting the Guide to Beginners back to the top of the board until he'd finished - but do you reckon the guy could be mentally unstable?
You think that was uncalled-for Terry?
Why didn't you switch to an id nobody suspects, such as Backwardpalm? That always works.
Remember this guidance from you last September when the share price started to move away from the $4 level? -
Those of us "bashers" who saw this phony move,will now see additional effects.a total of 8 million shares possible........... tell us more Aaron!
And remember all those gullible warnings from you about the share price going over the Fiscal Cliff?
Not a lot of people know this, but Micky Mouse wears a Terry M wristwatch.