Bye Bye Mundipharma, page-20

I enjoyed reading your optimistic post, Gumnut70. It contains more than enough reasons to keep watching SPL.

Yet, however accurate your opinions might turn out to be, it does not alter the fact that many of Teddyward's misgivings could also turn out to be accurate. Probably only one of you will turn out to be right.

As a result of what I consider to be abject failures in the non-scientific departments of SPL, my investment decisions in relation to SPL are now more influenced by SPL's track record than by SPL's scientific excellence. I will take issue here with just one snippet from your lengthy ode to optimism: "The company is very secretive, as we know". This I do agree with you. In my opinion, where secrecy is concerned, SPL pushes to extremes the boundaries of what it can get away with. Now then, what if this apparent dare-devilry is indeed a major plank of SPL's corporate culture? Maybe SPL might have too much arrogance? Maybe SPL has so much arrogance that might have overlooked something? Who knows what, there are so many things that can be overlooked. Yes indeed, until DEP becomes successful, there is certainly some possibility that DEP will fail. It could fail, perhaps due to something that has been overlooked. In pharmaceutical research, it is commonplace for wonder drugs to dead-end. Failure can even happen at the final hurdle.

So, either until SPL makes big improvements to its modus operandi or until it can show that it is certain to become the great success that optimists predict, then SPL will remain for me a highly speculative gamble, even though it has products and research with huge potential. As far as investing in SPL goes, my opinions can now only be swayed by tangible results - not by optimism.

(Btw, I still hope that SPL succeeds, even though in my opinion great success for SPL is far from certain.)