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Biotech / Medical : Immunomedics (IMMU) - moderated -- Ignore unavailable to you. Want to Upgrade?

To: stockdoc77 who wrote (38490)	1/7/2017 12:39:18 AM
From: idahoranch1	7 Recommendations Recommended By captcobra1 CelebrityEquity drtom1234 erippetoe ladyPI and 2 more members Respond to of 63291

I'm a foolish investor, I own one stock, this one. Funny thing is, I've never considered myself foolish or gullible. While I'm trusting, I'm also suspicious and especially wary of get rich schemes. For several years I owned two stocks, IMMU and BRK.A. How's that for a mix. I read Buffetts annual letters every year. In fact, the first year I flew back to headquarters in Morris Plains, it was because of reading "Buffett, The Making of an American Capitalist". There was a point in the book (if memory serves me) where when he was young, he went to the headquarters of a small company he was wanting to invest in. But first he wanted to see how things were at headquarters, did they pay too much for the furniture, did they even have employees there, were those there working hard. I understood that from having my own business and how I paid attention to those kinds of things. So, I believed in one of his rules, that you only buy into companies that have good management ( he also said that he likes to buy companies that a fool could run, because sooner or later, one will). What got me with this company was the cutting edge science, and the potential reward. I learned as much as I could about the science, not enough, but a fair amount. I think that succored me into thinking that I also learned that I could analyze it and have an edge in the investment of it. I developed a communication relationship with management, I also let that feed my confidence in my investing prowess, that while I never got inside information, I let their optimistic view of things cloud my natural wariness. That really began to change about 3 years go when the partnership for 132 just kept getting put off, and financings kept coming. I would ask "What, on a scale of 1-10 are the odds of a deal getting done this year for 132" and I always got " A Nine". I bought it and then, a financing, a crushed ROTH. Same year before last. Then there was last year and fiASCO and then a terrible financing, one that is holding the stock back right now. About a year ago I E-mailed management a serious letter about doing things differently, more businesslike, more shareholder friendly. Yeah, I brought up Buffetts idea that management should eat the same cooking that the shareholders eat, that their decisions should impact them the same way it impacts the shareholders. They never wrote back after that. So I'm back to the basics, invest in a business that has a great management, or if it's too late for that, do what you can to get a better management into place. One that sees shareholders as partners. I'm hoping a change will do that, I'm betting on it.