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November 1, 2005
Why I don't work for John Hancock
Let's just say it's not my best investment ever!
Their stock shot up yesterday afternoon and I thought I was clear; it was risk-takers betting the pharma-trials went well. We found out early this morning they didn't; as a matter of fact they were total failures, and the stock reflected it. From my understanding, not much left in the pipeline in the way of research either. Ugg.
Which is why I am glad I take my Mom's advice (and you should too): don't bet what you don't have! It could have been worse, but it was the smallest part of my portfolio. Those shares will hang in the back for about 10 years and maybe I'll break even; actually, the best bet now would probably be some major pharmacom buying it up for their R+D department.
Posted by TLorin at November 1, 2005 10:40 PM
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