Clipfort, page-56

I thought the whole point of investing in the spec end was because of the potential.

The whole point of investing in the spec end imo is to follow the money and be in for the pump but out before it goes sour because 99.9% of these companies won't make it to profit.

Even though it's more a term used in value investing, I think GARP can still be applied to specs, i.e. Growth (potential) At a Reasonable Price.

e.g. PML, one of the few tech specs to do really well in recent months imo has done well because it started from a very low proforma mc and so had plenty of room to move.