FDA announce new policy approach, page-37

"So what is it so interesting to you about MSB as an potential investment?"

The exact same thing that appeals to most people who are holders of the stock: the tremendous potential should the company succeed (go back and read some of my posts on this, where I have in fact described MSB as a "financial juggernaut" if it gets to the point of commercial self-sustainability).

But my investment process does not allow me to buy a stock if I can't dimension the downside to its intrinsic value; in MSB's case I cannot even work out what the intrinsic value of the business is, let alone what value-at-risk there is.

As such, I invest to generate acceptable risk-adjusted returns.

So, to summarise MSB's situation in my mind:

Plenty of Potential, But Risk Indeterminate

I'm not sure why people find that such an extraordinary investment approach.