Everything is up, but biotech–thanks to VRX plunging by another 14%. This play is pretty simple. I trust that Bill Ackman and his team have done the due diligence to know if VRX was a fraud or not. Ackman only builds large positions in stocks he believes in. However, on occasion he is wrong, like in the cases of HLF short and JCP long.
But fairness to the JCP mistake, he was betting on a guy (Ron Johnson) who crafted the Apple stores. On paper, his ideas made sense, just not for the fucking trolls who clip coupons at JCP.
Granted, Ackman isn’t a doctor or an expert in biotech. But he is a numbers guy. I could accept the bear case if it was only predicated on the “drugs are too fucking expensive” storyline. But ‘Enron-like’ fraud? I’m not buying it.
I don’t own VRX; but it’s tempting down here.
I have nothing to brag about, following yesterday’s beatdown. I can only pray to the Gods, both old and the new, to bring fire and thunder onto the heads of my enemies, crush their souls and send them to suffer in agony, for eternity.
The ECB is the truth. Our Fed is filled with butterscotch candy eating motherfuckers.
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Good morning Fly!
ONCE seeing the light….
good morning
I think part of the AGN greenmail deal was that Ackman had to agree to buy VRX stock with the profits. VRX is not a fraud, they just have a tremendous amount of debt that they need to service from the drug portfolio they have bought. To keep that going they need to keep making acquisitions, but now their debt is dropping below par. Ackman is married to this hot mess and I think it will be his undoing.
VRX may be the Ack-mans water-loo
developing …
I like BLUE down here. Thoughts anyone?
I do own VRX and I am pissed off at myself for not seeing this coming.
I am also pised at the new design of this site. The designers had way too much time on their hands.