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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Justa Werkenstiff who wrote (10465)12/15/1999 5:25:00 PM
From: marc ultra  Read Replies (2) of 15132
 
Justa re<<<<Got Freemarket? Ouch, baby, glad I did not chase this in the aftermarket. >>>>

At a small fraction of 1% of my portfolio I have a lot more serious things to go ouch about. One of my biotechs ISIP which I've accumulated over the last 3 years blew up in the most bizarre way. I will bore people with some of the details since it makes another emphasis on the 4% rule. The company got an interim look several months back at an interim data analysis on a study of their lead drug. It looked so good the company allocated major resources and plans for the drug's manufacture and approval. This interim look included 150 patients. The company got a final look at the results Monday for all 300 patients and for some bizarre reason which no explanation can be found the second 150 patients did so mediocre it sounded almost like the mirror image of the first 150 patients and the trial was declared a failure. They looked at all the logical suspects but couldn't find an explanation why this happened. The conference call sounded more like a wake than a cc. The stock was sliced by around 70%. The only fortunate thing was my holdings were limited to about 5% of my portfolio. I sold some of my holdings I purchased at relatively high prices for tax loss purposes as this should be a broken stock and a very damaged company for some time now.

Marc
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