You always want to look at stocks with the lens of opportunity cost. It is easy to get carried away by management narratives and hope, and that would be okay if opportunities were few and far between. However, there are some wonderful opportunities, even in the pharma sector that are much better positioned and whose management always walks the talks (case in point is Caplin Point which has been growing consistently for more than 20 quarters in a row).
We as investor have this bias that patience is a virtue and our patience is almost always rewarded and the more we spend time studying or following a company, the more we get married to its story. The fact is, patience can destroy your wealth if you put it in a bad company and the common thing about good and a bad company is, they both tell a good story. So judge a company not by the story they tell, but the numbers they deliver.
Disclosure: I was invested in this company two years ago but have since exited.
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