Friday, March 30, 2007
Asshat of the Week Award: Joel Sendek
This man, Joel Sendek, biotech analyst from Lazard, is just making stuff up. On January 16th, 2007, Joel warned investors the FDA would not approve DNDN's prostate cancer drug, until 2009. Frankly, it is rare to find someone who can be so wrong, in such a short period of time. Luckily for the Asshat trophy award makers, Mr. Sendek is out and about-- making all sorts of devastatingly bad market calls.Hence, he gets this week's "Asshat Award."
I quote (Via Briefing):
"Firm believes that the complicated nature of the application, including secondary statistical analysis, may require a longer review period at the FDA. They continue to believe that the FDA will require data from the ongoing D9902B trial, prior to approval. Firm continues to expect approval in 2009 contingent upon survival data from D9902B, a trial that they view as more straightforward in design than previous studies."To make matters worse, Joel had a fucking "buy" rating on AGIX, prior to this swan dive.
Asshat!
Also, it's worth noting, after AGIX fell 60% in one trading day, Joel decided to downgrade the stock to "hold."
Double Asshat!
Finally, I have to mention, DNDN's prostate cancer vaccine was approved yesterday, nowhere near Joel's 2009 target date. What the fuck? And, the stock is up 300% today.
Triple Asshat!
NOTE: Liisa Bayko of Next Generation Equity Research and Paul Latta of McAdams Wright Ragen both downgraded DNDN, prior to the FDA approval and deserve an "honorable" mention-- when discussing important matters, such as "Asshat Awards."
Comments:
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I nominate myself to the honorable mention list. That said, I'm pretty fucking pissed I was too stupid not to buy the 3X fucker. Nice to know my unemployed ass is as qualified if not more to be a premier biotech analyst at Lazard.
What is up with all the buying in IMCL? Don't they realize Erbitux is the same crap that fucked up AMGN? I smell a future "Fly" Asshat award in the making.
What is up with all the buying in IMCL? Don't they realize Erbitux is the same crap that fucked up AMGN? I smell a future "Fly" Asshat award in the making.
Cramer gave DNDN a "SELL! SELL! SELL!" earlier this week. There were ALOT of "smart money" hedge funds betting against it, so I guess Cramer took his cue from them. He's too busy writing articles and doing interviews for the Street.com and preparing for his CNBC appearances to conduct any kind of independent research. How could he possibly have an edge at calling wether a drug gets approved? Besides, he's not even a scientist, he's an entertainer.
Cramer deserves a crown. He's King of the Asshats.
Long live Leonard the Wonder Monkey.
Cramer deserves a crown. He's King of the Asshats.
Long live Leonard the Wonder Monkey.
Any idea if he had a buy on NBIX@72 until their sleep aid was not approved and then it dropped to $21 the next day? Go Gators!!
BWLD should be moving up on reduced corn prices. Broker do you like MPEL? I want more exposure to Macau and I think it is a pure play on it that is cheap here. I know you trade Asia and I would appreciate your thoughts on it.
# posted by 
: 10:32 AM
: 10:32 AM
I used to get all worked up about the Cramer-fuckup effect on my positions. But I've seen the light and no longer hate or care about Cramer at all.
With the winners I see on this site every day - I only care what the Fly say next.
With the winners I see on this site every day - I only care what the Fly say next.
I hate Macau and would like to see it destroyed, by a fleet of pirate ships.
"The Fly" does not like gambling. He only likes buying out of the money calls, with 2 days left until expiration.
"The Fly" does not like gambling. He only likes buying out of the money calls, with 2 days left until expiration.
Just one thing, not that it changes much... DNDN's vaccine (Provenge) was NOT approved yesterday. FDA’s Cellular, Tissue and Gene Therapies Advisory Committee voted in favor (basically saying that it's safe and effective) but that's not FDA approval. Not yet, anyway.
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