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Biotech / Medical : CNSI Cambridge Neuroscience
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To: NeuroInvestment who wrote (198)7/14/1997 10:23:00 PM
From: WWS   of 675
 
The "hold" rating is generally interpreted as "sell" by street-wise investors, who recognize the illogical basis of "hold". I think that is what the two gentlemen who called you today were trying to point out. The problem with "hold" is that it requires a contradiction--that a future risk can be "acceptable" to existing owners yet "unacceptable" to prospective owners. In fact, the future risk of ownership is exactly the same to all owners. If, because of this future risk, not buying is the best decision to make if you are not a current owner, then selling is also the best decision to make if you already own. P.S. In spite of this minor criticism, I do appreciate your posts. Bill (a former holder of CNSI).
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