It's inevitable in the short term that legislators will look at this issue. If you look overseas, when the device reaches a tipping point, you start to hear rumblings among legislators. Pretty soon we're going to hit that tipping point in North America.

When you invite the whole world to your party, inevitably someone pees in the beer.

A friend of mine from New Orleans was able to see one of these maps and read some damage descriptions and she realized the floodwaters had stopped about 20 feet from her house.

The election is exaggerating the short term, but it's not the issue. The issue is the deceleration of earnings and the contraction of multiples because prices got way out of whack with what future earnings were going to be.

The election is exaggerating the short term, but it's not the issue. The issue is the deceleration of earnings and the contraction of multiples because prices got way out of whack with what future earnings were going to be,

Whether we own shares for the short-term or long-term, it's a red-herring issue that incompetent management uses to distract people from the real issues, ... In this case, the issue is that Ligand is beset by Robinson's and Maier's incompetence and failure.