Rolling The Dice

Glaxo Smithkline has a problem.  It’s not creating enough blockbuster drugs.  Its share price lives and dies by its ability to create the next Avandia.  It’s a tough process as it takes, on average, 90 months (that’s 7 years!) and $802 million to get a drug to market (that includes the cost of all the failed… Continue reading Rolling The Dice

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Efficient Markets

I couldn’t help but notice on Friday that Freddie Mac’s stock ticker looked like this: Take a look at the chart for a sec.  It closed the previous day at $8.  It opened at about half that, $4 – or a 50% plunge.  Then it rose steadily throughout the day to down a mere $0.25… Continue reading Efficient Markets