While certainly not the bargain it was about 11 months ago (still can't believe I just sort of glossed over that post of Biomaven's), secondaries are often good times to add, as they often foretell good news (although IJ may not think the acquisition of another property is so hot at this time), because the bankers want their clients to be pleased. I'm going to use this little dip to add. I'm annoyed that I was busy all day and didn't catch the downdraft.
quid
PS This market is so treacherous, so fraught with manipulation and selected leaks, it tests one's faith in the integrity of the markets generally. Yes, ENE, GX--on a grand scale that tempts one to pillory Lay, Skilling, Fastow, Winnick, and the rest. But every day, on a smaller scale, as the selling in ITMN, yesterday's dumping of KMP (a gas pipeline MLP of which I own a good chunk), before the release today of a PRU stinging downgrade, hearkening ENE-like problems; front-running for shorts and clients. Selected leaking of trials. The markets may not be broke, but there are a lot of squeaky wheels that need to be lubed and reamed.
quid |
