I hope the fund manager sold some intercept before it tanked. I am assuming he lightened up some on the position? That's why it so much better in a well managed fund than picking stocks.. I believe in the bio tech sector but to pick and choose is impossible.
I agree that Kaul should have sold at least half of the hp;dings in ICPT just to nail down the profit in this volatile stock. I also read that ICPT is openly seeking partner from large drug companies to share the development cost of the drug OCA.