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Biotech / Medical : Pharmos (PARS)
PARS 2.700+13.6%Jan 21 4:00 PM EST
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To: rjk01 who wrote (1375)12/24/2004 8:27:48 AM
From: NeuroInvestment  Read Replies (1) of 1386
 
I have not forgotten that I said that Aviv had the right to not have too much of his retirement 'eggs' in the Pharmos basket at age 67. I still believe that. However, I would have to say that his tenor on the conference call post-results influenced my view of his ability to alter the perception of him as being too focused on his own situation. When he was asked about the stock sale, he somewhat rudely replied that he'd previously been interviewed about this and was not going to discuss it further.

Bad move. In retrospect, not only should he have found a less provocative way to diversify (again--IMHO he had the same right to diversify that any of us have) but his inability to convey any understanding of how that looked is what undermines his prospects for regaining investor trust.

The oft-repeated question is--did he sell on the basis of seeing a lack of divergence on the blinded data? I don't know Aviv well, but I have spoken long and often with Riesenfeld over the past eight years. He has in the past told me that they would not be running blinded data through stat models--and my read of his tone on the day of the announcement--both on the CC and during a subsequent conversation with me--came across as genuinely shocked and regretful. That doesnt prove anything, but I do rely to some degree on my 'read' of people.

Enough of this for now. Holiday wishes to everyone.

Harry
NeuroInvestment
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