Red Metal Banter, page-373

At the time I bought my first and largest parcel of this, there was enough information (for a speculative stock) to make a pretty educated decision on getting the sybella optionality for free.

The cash in the bank and MMA shareholding made up nearly all of the value of RDM's MC at that point.

Since then, we've gotten a pretty substantial bit of news as BPP has explained with some fantastic posts here. His logic is pretty sound.

As far as speculative "punts" go this one does make up a pretty decent portion of my speculative portfolio (but is not my largest) as I think it presents a very attractive risk vs reward ratio. I play the big end of the market too and beat inflation up there by shuffling around holdings between large caps as every now and then there's something obscenely undervalued (WDS when oil went negative anyone?) that is just free money if you're paying attention.

You are right the big gains are made down here and it's just more fun down here in the mud
One just needs to remember to forever sequester off part of their winnings into safer investments and let compounding do it's work.