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Biotech / Medical : Prime Medical Systems, Inc.(PMSI)
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To: Ken Sims who wrote (38)3/4/1997 11:37:00 PM
From: Mark Fleming   of 210
 
John, if you or anyone else decide you want to sell at $9.50 with no fundamental change in this company's outlook...I'll be there! I guess there's always the chance that there's some new medical procedure that'll blow PMSI out of the water. I kinda doubt that's the culprit though. You guys remind me a little of myself when I sold most of my RDRT last year. I held on and finally gave up when it cratered near $12 on some _bad_ news. I'd be REALLY happy right now if only I'd held on another 7-8 months.

Now I know RDRT is a different story than PMSI. (For one thing, RDRT descended on bad news unlike PMSI which seems to fall despite a cascade of good news.) I still think there's a lesson there though. In the short term, the market occasionally is very un-rational and un-efficient. IMHO, the people who try to make a quick, easy profit are most susceptible to the market's irrationalities which other investors with a longer view can profit from. I guess I'm a contrarian by nature, huh? I'd suggest that the problem lies not with PMSI but with the market itself, and that the market will eventually correct its imbalances. On the other hand, if you're losing patience on this one, you may as well bail out now and cut your losses. I don't see it rocketing anytime soon either.
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