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International Investing / Australia (All-Ordinaries)


Subject:  Re: Novogen Date:  3/23/2000  6:17 PM
Author:  demiller1 Number:  1255 of 6186


There was a report on ABC radio 720 on a drug produced by Novogen that does not do what it is supposed to do. The supposed 'independent' researchers initially contracted by Novogen actually had an investment of 10 million shares in the company and ABC suggested that this was not independence and a huge conflict had been created by this investment (which I tend to agree with by the way as it is difficult to be impartial with 10 million shares staring at you compiling a report - good or bad).

To the point - a separate research and scientific analysis was done on the drug and it was found NOT to do what Novogen (and the initial independent report) said it would do.

The drug has since been withdrawn from sale.

As regards 10 years, one can invest long term strategy when one has money to burn with youth on his or her side. When you mature you realise that 10 years is a hell-of-a-lot of time to hold investments (in fact the Government thinks this as well). There are opportunities to be taken in various other industries and companies it is just that I like to take my profits and invest elsewhere, the turnover does me good and now the CGT benefits does me a little better. Overall I feel that directors of public companies can only be trusted so far as they have their own personal agenda to fulfil first --- b4 the shareholders!
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