Ming's Guide To Biotech Investing

When presented with the opportunity to participate in a revolutionary new biologic, one should lie down in a quiet corner, cover one's eyes with a damp towel and pray that the feeling will pass. However, should the potential for outsized gain seem so great that you find your hand straying to the buy button, cut off the offending appendage. In the fullness of time you will be glad you did. This, notwithstanding having to then hire someone to help with your daily ablutions. All this reticence to participate is a function of any and all such opportunities having to first gain the benediction of the glorious FDA before coming to fruition. This is an arbitrary and even nefarious exercise. The minions involved are the dregs of their profession, unable to achieve gainful employ elsewhere. Think of the FDA as a physician's equivalent of the Post Office, where one lands when all other possibilities are closed to them. The FDA not only is a refuge for the incompetent looking for a sinecure, but is a school for scoundrels as well. Thus, rather than invest in the victims of their ministrations, one will be better served taking their available funds to the nearest racetrack and betting all on the nag with the most colorful name. At least then you can see the runaround you receive.