Super weird psychology in this thread and I guess HC in...

Super weird psychology in this thread and I guess HC in general.

Snippets of truly fascinating insights from many posters in amongst the world's silliest, overly emotional tit for tat.

Why people invested n RAC spend any time over in forums for companies they don't hold and don't intend to hold is kind of beyond me. Especially the human supercomputers in this thread who provide such impressive information on new journal outcomes, likely MOA, display excellent recall of past company announcements. Pissing matches over what the price is soon to be also confuse me, especially in an illiquid, option-capped stock such as RAC.

Meanwhile, the converse is true. I don't know anything about IMU, I really hope investors do well in that company but I'm unclear how pulling down RAC is useful. It's hard to say who is stooping to whose level. I am aware there is a professional element to trolling but from some of these posters it just seems like they are regular investors reacting how most people do when threatened, getting their back up whether the facts are in their favour or not.

In undergraduate economics you are told to assume information is perfect and consumers (investors) rational, I'm unclear how that theorem ever got legs, this thread is evidence of its bullshitness, QED.

Commenting during long periods of waiting is probably just a function of human boredom, but I keep in mind that:
1. the well worn aphorism that the market can remain irrational longer irrational longer than you can stay solvent (Keynes wasn't wrong about everything) is probably true - (my subjective view). My perception is that capital moves like a school of tuna from baitball to baitball.

The school is moving away from technology, and has been feeding on gold for a little while (or on cash and bonds), and while biotech has it's periods seemingly, we are not in one right now even though to our minds we are a massively ripe baitball for the feeding. Like in nature, many sardines don't get eaten, there is only so much tuna, only so many sardines, and sometimes, water visibility, storms, currents or the ravenous focus on other baitballs means the tuna misses us. - at least, for a time.

2. People sometimes miss a meta-step in assessing their investment which is assessing the minds of others - we here all know a great deal about RAC because we read this forum, the announcements, we watch presentations, research more broadly. That takes emotional and mental investment and time. Other people are spending their time washing their car, punting on the dogs, or renovating their bathroom. Of the 7 million Australians odd have direct shares - most are in the much higher end of the 2200 odd listed ASX companies and the top 10 companies attract a couple of thousand times our present market cap from investors. The pool of people interested in this end of the market - pre-revenue biotech, not the dividend chasing boomer's favourite for sure - from the general population is actually pretty small, and those people have to want to invest the time to scratch the surface first - our value is not immediately obvious, we only think so because we are the few who have read up and then taken the plunge. (Separately i'm sort of enthused by Dr T's comment a while back that funds are starting to pick up trained biotech analysts which might change things up over the long term for the sector).

Everything is likely fine, and in the grand scheme of things if you have income coming in this is just a time to consider leveraging your time and knowledge arbitrage - your greater knowledge of RAC now against those who will find out later and want in. We could go tits up of course and I've done my arse recently on a lithium chemical company I thought was a winner, so I don't truly know anything. Honestly though while possible, it doesn't seem likely, it doesn't seem like you'll be asked to stump up more cash soon, and we're probably only 3-4 months off learning how effective the drug is (or not, just to be pedantic, but who here really thinks not).

Good luck legends. Even you, IMU team, to the extent you are in fact ordinary retail investors. Hope you get up, and also, hope you get into RAC and get up on both counts.