"Better Buy: Exelixis, Inc. vs. Roche" MF 4/27/16
This time Renauer recommends Roche with its $211B valuation over EXEL...
Once again comparing the Pacific Ocean to the backyard puddle created each time it rains...
"Day after day...alone on a hill...
The man with the ice cream grin is keeping perfectly still.
Nobody ever liked him, they know he's just a fool...
Nobody ever noticed, but the Fool on the hill...
Sees the sun going down and the eyes in his head see the world spinning 'round..."
What planet is this guy from?
"Are you familiar with NAVB and the shareholder revolt..."
I'm not, but would enjoy a recap if you have time. If the issues of convertible debt with EXEL go unaddressed beyond August, it may become necessary to consider action outside the norm. I'm not much of a ringleader, but I do have tenacity in my corner. Like Daddy always said:
"Walk softly, carry an armored tank division, and be prepared to use it."
"I'll take issue with the death spiral nature of the converts."
Putting aside the financial semantics of the EXEL convertible arrangement for the moment, the only point I'd like to suggest is that any financing that is borne of desperation...that creates a disconnect in perceptions of valuation...that threatens to scare off long-term shareholders with false worry of manipulation...that smacks of ongoing deceit... Is wrongful.
All these scenarios can be considered toxic, and should be of grave concern to CEO, upper management, CFO, staff, and BOD. Perceptions of criminal collusion permeate Wall Street as it is, and honest investors should not feel continually threatened by illusions of failure in the face of continued successes. At its simplest, it's woefully misguided misrepresentation - and I would expect management to share my concerns. If they are not concerned, they have no business being in any publicly traded business endeavor - regardless of how many cancer treatments they are developing. This whole manipulative theme has become increasingly cavalier, and I don't see any management concern at all. I would expect some measure of reassurance from this management and BOD team in the very near future, rather than they simply continue to issue themselves another bazillion free shares, options, and pay raises to support the illusion of success - all the while turning a blind eye and deaf ear to shareholders.