Harry Newton's In Search of The Perfect Investment
Newton's In Search Of The Perfect Investment. Technology Investor.
8:30 AM Wednesday, November 30, 2005:
sun is shining and I didn't read today's New York Times (see below). I bet third
quarter GDP growth report will be strong -- perhaps as high as 4%. Hence, my
preparation for tomorrow's colonoscopy will be more uplifting (although that's
probably not the right word to describe today's ordeal.)
InSite Vision is a favorite biotech speculation. I've written about
InSite Vision (ISV) before. I even claimed it would reach $1 by Christmas. It's
presently 76 cents. Today it reported good news, namely positive top-line results
from a pivotal phase 3 clinical trial of AzaSite, a sterile, topical ophthalmic
anti-infective solution containing 1.0% azithromycin formulated in DuraSite
(the Company's patented drug delivery system).
According to the company, In an international, controlled clinical trial, subjects
with bacterial conjunctivitis (pink-eye) were treated with either AzaSite dosed
twice a day for the first 2 days, followed by once a day for the next 3 days
or 0.3% tobramycin dosed four times a day for 5 days. AzaSite demonstrated a
clinical resolution rate of 80% as compared to 78% for tobramycin. This result
shows that the clinical resolution rate of AzaSite is equivalent to tobramycin,
the primary efficacy endpoint of the study, according to statistical criteria
which were previously agreed to by the FDA. The bacterial eradication rate was
also equivalent for both groups. S. Kumar Chandrasekaran, Ph.D., InSite Vision's
CEO stated, "The results of this phase 3 clinical trial demonstrate that
AzaSite is effective against bacterial conjunctivitis using a significantly
reduced dosing frequency. (That's the key, because patients often skimp
on dosage.) The clinical resolution rate of less frequently dosed AzaSite
is comparable to the best selling ophthalmic antibiotic products. The reduced
dosing frequency can lead to improved compliance, greater patient convenience
and better therapeutic outcomes. This result is a major milestone achievement
in the preparation for the AzaSite NDA filing in 2006."
InSite will hold
a conference call this morning, beginning at 10:30 a.m. Eastern Time. Call (800)
475-3716 or (719) 457-2728. A telephone replay will be available for 48 hours
following the conclusion of the call by dialing (800) 203-1112 or (719) 457-0820.
All callers will have to enter the Replay Passcode: 2904045. The live conference
call will also be available via the Internet on the investor relations section
of the Company's Web site. Click
your credit card's expiration date: My card "expires" every
three years. Then all the vendors with whom I have it listed complain and bounce
my account. There's a solution. My Visa card really expires in October 2007.
But I've been telling all my vendors it expires in October 2010. It works. Today
I'll try 2011.
read the New York Times: Says Texas reader David Rhoden:
consider resigning from reading The New York Times for 30 days....I promise
your outlook on life, on the economy and America will miraculously improve.
The Times is plagued with reporters that search for negativity in all that is
American.....just try it for 30 days...you'll be a new man.....and you'll feel
younger too.....ha....seriously with the Times the glass is always "half
full".....I wish you a speedy recovery from your illness...!!....david.
The story gets
weirder. One of my otherwise intelligent money managers bought me (and all its
clients) a swag of New York Times stock. They were promptly inundated with bitching
clients all of whom claimed they hated having the Times in their portfolio not
because its stock had cratered....
but because they hated the Times' alleged left-wing philosophy.
on-line gaming isn't allowed in the U.S. Sir Richard Branson believes
it's not allowed because of the strong lobbying of places like Las Vegas and
Atlantic City, who fear online gaming may take some of their business. He also
surmises that American taxing authorities might be concerned about collecting
taxes. Meanwhile he's started his own online gaming site. It's called VirginPoker
and if you want to break the law and play poker online, click
here. Remember the odds are stacked heavily against you winning anything.
Neat monitor: This is a $600 21" monitor
by Gateway. It's so big you can run two letter-sized documents next to each
other. You can run multiple inputs on it -- e.g. a movie, while you browse the
Internet. The monitor adjusts up and down and pivots. Most don't. They're huge
pluses. One caveat: The monitor runs 1680 x 1050 pixels. You must have
a driver that powerful. That means you may have to buy a special video card
if you have a desktop PC. If you're using a laptop, buy the VillageTronic VTBook
For more on the monitor, click
here. For more on the VTBook, click
phones have ears. Be wary of the conversation you have on your portable
phone. Last night, I turned on my $45 Sennheiser wireless headphones and had
a perfectly clear earful of a conversation between two ladies, discussing everything
from boyfriends to sex to politics. By adjusting the frequency on the Sennheisers,
I was able to hear the National Geographic TV show. But the ladies were still
there an hour later. Be wary.
narrows its loss: But its shares plunged.
Everyone, including me, wants to love this stock because TiVo is such an important
part of their TV viewing habit. BUT..
+ 87% of TiVo's customers come from its partnership with DirecTV, which
is now over.
+ TiVo subscriptions are way down. New subscriptions gained by TiVo on its own
in the three months that ended Oct. 31 fell to 55,000, slightly more than half
the 103,000 it signed up in the same quarter last year.
+ The company's management is floundering. Chief Executive Tom Rogers says the
company needs to find other approaches to gain customers and keep TV advertisers
happy. Sadly, he hasn't found any. Even more sadly, Rogers doesn't seem to listen
well. Even worse, he's a media man, not a technologist.
+ There are serious flaws and gaps in TiVo software, which I personally doubt
will ever be repaired.
story of the popular young rabbi.
This is a story about a popular young Rabbi, who on Sabbath Eve announces
to his congregation that he will not renew his contract. He explains that he
has two children now, so he must move on to a larger congregation that will
pay him more. There is a hush. No one wants him to leave.
Sol Epstein, who
owns several car dealerships stands up and proclaims: If the Rabbi stays, I
will provide him with a new Cadillac every year and his wife with a Honda mini-van
to transport their children!" The congregation sighs in appreciation, and
a successful entrepreneur and investor, stands and says: "If the Rabbi
will stay on here, I'll personally double his salary, and also establish a foundation
to guarantee a college education for all his children!!" More sighs and
age 88, stands and announces with a smile, "If the Rabbi stays, I vill
gib him sex!" There is total silence.
The Rabbi, blushing,
asks her: "Mrs. Goldfarb, whatever possessed you to say that?"
Sadie's 90 year
old husband Jacob is now trying to hide, holding his forehead with the palm
of his hand and shaking his head from side to side while his wife replies: "Vell,
I just asked mein husband how ve could help, and he said, "Screw the Rabbi."
+ Dumb reasons we hold losing stocks. Click
+ How my private equity fund is doing. Click
+ Blackstone private equity funds. Click
+ Manhattan Pharmaceuticals: Click
+ NovaDel Biosciences appeals. Click
+ Hana Biosciences appeals. Click
+ All turned on by biotech. Click
+ Steve Jobs Commencement Address. The text is available:
Click here. The full audio is available. Click
+ The March of the Penguins, an exquisite movie. Click
+ When to sell stocks. Click
This column is about my personal search for the perfect
investment. I don't give investment advice. For that you have to be registered
with regulatory authorities, which I am not. I am a reporter and an investor.
I make my daily column -- Monday through Friday -- freely available for three
reasons: Writing is good for sorting things out in my brain. Second, the column
is research for a book I'm writing called "In Search of the Perfect
Investment." Third, I encourage my readers to send me their ideas,
concerns and experiences. That way we can all learn together. My email address
is . You can't
click on my email address. You have to re-type it . This protects me from software
scanning the Internet for email addresses to spam. I have no role in choosing
the Google ads. Thus I cannot endorse any, though some look mighty interesting.
If you click on a link, Google may send me money. That money will help pay Claire's
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here and here.