To: Oblomov who wrote (33341 ) 1/24/2009 10:01:52 AM From: Jurgis Bekepuris Read Replies (1) | Respond to Well, if you used to do early-phase commercialization forecasting for a major pharma company then you perhaps can invest in such companies. I don't see how I or mostly anyone else can. IMHO, most people - and I exclude you from most people :) - investing in biotechs are speculators who have no clue and lose their shirts.positive earnings . I can guarantee that none of the companies you mentioned have returned any capital invested during last 10 years. Actually it's easy. Just look at their balance sheets and find one with positive retained earnings. Which pretty much means that anyone who invested capital into the company would be still very much into red if they counted on cash from business. So, why would one buy a business that loses cash for 10 years? Perhaps, as you say, for the big cahuna profits at the end. Isn't it better to bet in the lottery though? (No, scratch that question, I know about the societal value of early stage investors who bet their farm on unproven concepts and usually lose. We need to celebrate their input into the progress of our civilization. :))).
