Oops, forgot to change my sentiment!I try to avoid holding stock...

Oops, forgot to change my sentiment!

I try to avoid holding stock around a known inflection point, like a pivotal study or an FDA approval - if the result turns out bad, then I've saved losing money, if the result is very good then I've missed an opportunity (but can usually pick some up later once the euphoria subsides and the reality of having to generate actual sales kicks in).

In practice, most times the result is OK but not spectacular - and the price might go either way so no great loss (often bizarrely falls, especially if there has been a strong runup prior to the announcement). Not for everybody, but it suits my personal risk appetite and my overall portfolio construction.

So, can't claim any great insights but I got out well before the expected announcement date (maybe too early, but I have memories of one occasion where I left it too late and the company announced early - costly mistake!).