PXS--Pharmaxis Ltd

[Beagle]

WOW .... not taking the punt on the near 50/50 chance of getting approvals

Now they concentrate on investing in soemthing new .... or buying more of what they have

Some would say this is the time to buy PXS -- esp the multitudes who believ Fisher has a track record of buying high and selling low

Suppose Roger not impressed

Actually I think Fisher were very dumb to sell after a drop of that magnitide but obviously buying high and selling low is one of their special investment "skills" Even dumber still is having 12% of your portfolio in an emerging biotech in the first place. They seem determined to destroy investors value and their reputation is in complete tatters as far as I am concerned.

[macduffy]

I don't hold PXS - or Barramundi - but I'd have to agree with Roger that having 12% of a portfolio in an unproven biotech doesn't make sense for a fund which purports to be an Australian growth equities fund. I'm not averse to having a small bet on biotechs from time to time but I treat them as I would an oil and gas or mining explorer, limiting exposure to no more than 5% of my portfolio. CST - currently emboiled in a "contested" takeover - has been good in this respect but I've also had some disappointments. The key is to limit exposure and act quickly to cut losses, admittedly not easy when holding such a big chunk as Fishers have/had here.

[drillfix]

Well worded there Macduff.

And a great description of a very balanced discipline that is and example for many newbs to read.

[777]

Has it been considered that perhaps it was the selling by FF that caused the large drop?

[macduffy]

Has it been considered that perhaps it was the selling by FF that caused the large drop?

Fishers weren't the only big holder to sell but there's little doubt that the weight of their holding contributed to the extent of the fall.

[COLIN]

Fishers weren't the only big holder to sell but there's little doubt that the weight of their holding contributed to the extent of the fall.

Ironic that they are up 28% today (at this stage)! Not a good look for Carmel.

[Arbitrage]

I wonder whether she will mention it in her regular newspaper column on how to invest?

[percy]

I don't hold PXS - or Barramundi - but I'd have to agree with Roger that having 12% of a portfolio in an unproven biotech doesn't make sense for a fund which purports to be an Australian growth equities fund. I'm not averse to having a small bet on biotechs from time to time but I treat them as I would an oil and gas or mining explorer, limiting exposure to no more than 5% of my portfolio. CST - currently emboiled in a "contested" takeover - has been good in this respect but I've also had some disappointments. The key is to limit exposure and act quickly to cut losses, admittedly not easy when holding such a big chunk as Fishers have/had here.

Sage advice.

[Toulouse - Luzern]

Hi all,
Good posts on this thread.
I wonder about FFM risk appraisals on PXS and for their AGF and BRM portfolio based on the binary event, approval given to PXS, or approval not given.
As set out earlier in this thread the clinical trial result was marginal...
FFM raised their stake and bought an extra 95,000 PXS at avge of $2.97 in the month before the announcement.
It seems to me that Shrewd Crude expertise may give us an insight on the way this hand was played.
Cheers

[COLIN]

Up 46% (so far) today! Carmel dear, what have you done! Or what are you doing, may perhaps be more to the point? Shorting, longing, or just lounging?