"When the day comes where Robinson is done diluting the heck out of his shareholders, .... point that I and others have grasped..... Ligand's management has been shareholder-unfriendly. ....the "let the shareholder take it on the chin" business plan gets old."
Richard, could you elaborate on what LGND management actions or lack thereof is bothering you. Also, what is business plan your talking about.
I have been a LGND shareholder for some time and have always viewed the company as being in a long term development stage. I have invested in a number of developing companies over the years with satisfactory overall results and I know the market often does not reward such a stock despite good business progress (I use these times to add to my position if I like the progress). But, I also know that I, for one, have been unable to always predict just when the market is ready to reward a developing companies stockholders. Lastly, I have seen a few cases where management's 'developing' work takes on a life of its own and they need to be reminded why they have stockholders. Of course, some of them don't listen but eventually something major happens, perhaps bankruptcy.
Richard, I have a view that LGND's management has been quite good (not perfect) and is tuned in to building stockholder value over time and, I believe, the markets are beginning to reward the stock. However, I am above all else a seeker of "investment truth". You are quite intelligent and see LGND differently. Understanding your view is important to me as I might have missed something. Also, if you would share your timing insights, perhaps I could learn to time my entry into developing companies more effectively.
Thanks in advance.
Walter |
