Guru was right; the FDA approval came through yesterday. The stock shot from $1.16 to $1.60, but there was a lot of “selling on the news” (“buy on the rumor, sell on the news,” goes the adage), so the stock closed the day up just a penny, at $1.17. If Guru continues to be right, FCSC has more upside than downside over the next year, so my plan is to sit tight, with money I can truly afford to lose.
Chris: “I still don’t understand how one is unaware that coffee is hot. Or that it might spill. This could not have been the first time this woman ever experienced coffee and she must have been aware that brewed coffee starts out life hot. Just like the edge of a knife is sharp, the burners on a stovetop and light bulbs get hot when in use, and the tip of a pencil can puncture one’s skin. Not having followed the whole story, I assume there are reasons the judge didn’t throw the case out immediately. I suppose it’s good that the case didn’t result in coffee growers having to label each unroasted bean.”
☞ You “still don’t understand” because you haven’t seen the full story.
Her injury was horrendous (wait til you see), the car was not moving, the coffee, as a matter of policy, was served at a truly scalding temperature – even after 700 previous claims for the same injury had not led to a change in policy. All she was asking for was $10,000 in medical reimbursement; McDonalds offered $800 and basically was going to make her #701 and just keep ignoring this. The jury was unanimous in its verdict. Karl Rove and the Chamber of Commerce would have you think that all 12 jurors are idiots, but after you see the film, may begin to think Karl Rove is a bit of a sociopath.
Premieres on HBO Monday. And extends in reach way beyond the hot coffee case. Must-see TV.
HOT BOOK DEAL
So Amazon is now selling the only investment guide you’ll ever need – EVER! – for $5.98. At least as of last night. The Money Magazine plug must have bumped it up to a better discount. It actually costs less than the e-book (imagine that: nothing to print or ship, no paper required, yet it costs more than the physical book) and just 3 cents more than the 1978 hardcover edition – which in 2011 dollars would have been $21, and which some dreamer is offering new, 33-years-old though it may be, for $75.91.
WHEN HEROES COLLIDE
Here is Al Gore – who won the Presidency in 2000 with both the popular vote and, had all the overvotes and chads been counted, Florida’s electoral vote – in a long, important essay faulting President Obama – who in the face of phenomenally difficult circumstances is doing a spectacular job – for not forcefully enough leading on climate change. My guess is that the President would agree with most of what Gore has written. In any event, this being the only planet available to our species for the moment, it’s worth reading what he has to say.
Quote of the Day
That I'm their competition.~Famed hedge fund manager Michael Steinhardt, when asked the most important thing an investor could learn from him.
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