Hi Migy119, I was in your position a couple of months ago and...

Hi Migy119, I was in your position a couple of months ago and decided to sell and take the loss. For a few months after I let go of a stock I sometimes pop into its forums. I guess because I am still curious and sometimes (when I've sold a good stock), sentimental. So, this post is just an opinion from a non-holder, which may discount its validity straight away.

I posted the details of a conversation I had with a neighbour (who is a rep for Johnson & Johnson's medical devices unit, OSX's rival) prior to selling out of OSX. That – together with the resignation of the Chairman – was my catalyst for getting out. I think the points he made to me are just as valid now as they were then. I won't repeat the post here, you can look if you want.

If it's of any use, the pain of taking the loss lasted about a week. Now it's just a niggling annoyance, because I've made up the money elsewhere (ALL to be specific). I found holding on to OSX was like holding on to an anchor in the sea, and have felt much better since letting it go. The psychological effects of holding on to a dud stock for ages and watching it do nothing but lose value far outweighed the short-lived financial pain.

On the practical side, apart from the points made by the J&J rep, I'm now looking at the OSX announcements without the rose-coloured glasses on. Funny how being a non-holder allows you to be more analytical and careful. I guess because we're not blinded by emotion about our investment.

The repeated comments about how OSX has taken a hit due to the drop in non-essential surgery are, to my mind, garbage. If you think of OSX's products (e.g Osteoplug and Osteomesh), a big proportion of them are for burr holes in the skull caused by drilling. I'm not a doctor, but would imagine that the operations requiring drilling into the skull are not elective, they're essential. To attribute the decline in sales to Covid is as disingenuous as the "trend" towards higher revenue being spruiked by the CEO that was identified by @bedger.