Now 33 cents, just takes your breath away
how badly it has done, sigh.
I have plenty of dry powder for my next
hairbrained idea--let's hope it doesn't do
as badly as Gene Logic has this past year.
But maybe it is time to run away from microcap biotech.
I'm even entertaining the idea of, gasp, hoarding cash
in CDs again. It is a long time til the girls go to college,
inflation will be tough, rates are lousy, but considering
my track record these past few years, saving might be the
only sensible way to go. Wall Street does not seem to be
printing free money anymore--at least not where I've been
poking around.
If I save $1000/month for 12 years--is $144k plus a nominal
rate of interest going to be enough? My guess is that $144k
plus the interest wont be worth more than about $120k in
today's currency. So that is $60k for college for each kid
--doesn't really sound like enough but state university will
always have to be affordable or who will go? That is a
good start, so I guess that is what I will have to do.
Nice to have time on your side--it compensates for the
occasional botched job. A real shame about their Coverdell
accounts, but I guess I have to forgive myself and move on.
Buying a biotech trading for cash/less than book seemed
a good idea at the time, they had good news flow, a handful
of deals with pharma. Had the look of legitimacy, who
knew it would decline 75%. Not me. |
