FBR General Discussion, page-6266

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I have spoken before on my views around risk and uncertainty.
Risk = the probability x severity of loss
Uncertainty = known and unknown unknowns

I see high uncertainty around FBR because of course the future is not guaranteed to play out like the past. Tech is fast evolving, is subject to adoption curves, meets with incumbents fearing change, has to overcome inertia, pre-commercialization, etc.
While I see uncertainty in FBR, I see a lower level of risk, because I see FBR trading for a relatively modest market cap given the size of their market cap, the size of the market, their unique position in the market. For one, the liquidation or replicating value of the tech has a certain value to it even in the event of liquidation. Additionally, your risk is also limited to 100% but your upside is theoretically unlimited.

I think it's important for people to be clear in their minds on how they perceive the risk and the uncertainty of their investments.

Now I'm not saying there is no risk involved in FBR. I'm just saying one needs to be clear on what the view as the risk and separately the uncertainty of their investment. Risk is inherent in all investments. For instance, even with Government Bonds which are considered to be risk free, Inflation and opportunity cost and loss of option value are all risks associated with so called risk free investment.

In any case, there is a lot of action going on with FBR. Not the trading of shares but the underlying operational developments. I am hoping the business can continue to execute and we can have a speedy ramp to commercialization. We are all truly blessed to have found FBR, IMHO.

I could be wrong. Your investment could go to zero. Use your own assumptions. Do your own research. Make your own investment decisions, etc etc.