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Wiki Articles - Discipline Is The Key To Investing And Trading Success
Here's what trading and investing legend, Richard Dennis, has said about making money in the markets...
"
"
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
I always say you could publish rules in a newspaper and no one would follow them. The key is
consistency
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
and discipline."
The above quote is from the book, "Market Wizards" by Jack Schwager. Dennis is a guy who
The above quote is from the book, "Market Wizards" by Jack Schwager. Dennis is a guy who
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
as a trader, took a measly $400 and grew it into an estimated $200 million dollars in a matter of years -
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
- not decades -- by being disciplined and following his rules. He is such a legend that several other "Mar
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ket Wizards" interviewed in Schwager's book described Dennis with the comment, "I'm not in his league."
T
T
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
ere are probably thousands of investment and trading systems that make money. Some make big money. But the
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
truth of the matter is that few of the users of these systems will ever make money.
Why?
Few peo
Why?
Few peo
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ple have the discipline to stick with a winning system or strategy. They'll go through an inevitable losin
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
period and get impatient. They start tinkering with their rules or abandon them altogether.
Have you eve
Have you eve
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
r seen one of those mountain charts marketed by the mutual fund companies that show that if you had invest
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ed $10,000 in 1950, or whenever, your investment would have grown to $10 million or so by 2005? I'll bet
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ou don't know one person who ever did that. And it's not because it's not true. It's the absolute truth.
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
It's not hype. That's what the investment would have done. But that's not what the investor
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
would have done.
The typical investor would have bailed out within a couple of years as soon as the marke
The typical investor would have bailed out within a couple of years as soon as the marke
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
took a downturn or as soon as the money was needed to buy a boat or some other toy. Or the typical invest
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
or might have kept switching into whatever the "hot" investment was as any given time, always buying at th
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
e peak price.
As Dennis says, the key is consistency and discipline. So don't spend time looking for the
As Dennis says, the key is consistency and discipline. So don't spend time looking for the
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
oly Grail of investments or trading systems. It doesn't exist. The Holy Grail is within you. It's not the
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
investment that's going to determine success or failure. It's the discipline of the investor
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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