Thanks for your kind words. As you noted, I can't predict the market. I can only attempt to interpret what investors are communicating through their bids, which determine share prices.
Unlike Valeant, before it imploded, I am not seeing massive fraud or opacity. There is definitely more emphasis on financial engineering versus old-fashioned value creation as in the Pyott days; but Pyott was a real outlier, whereas what we have now is more mainstream management style (as regrettable as that may be).
The price might go on to erode some more, or it might recover, I have no way of telling; of course, but I would venture to opine that a Valeant-style meltdown doesn't seem to be in the cards.
Dan.
