Good point actually. Nothing in the world is certain so we should be aware of risks. A good investment is never a sure thing. It is, as Bill Ackman recently put it in his last quarterly report, a situation with "moderate downside risk with substantial opportunities for profit".

The (moderate) downside risks as I see them are (macro to micro):

-Double dip recession, possibly worldwide (even Obama publicly mentioned this is a possibility last month. Shiller apparently thinks the recovery could be in our mind only. We've also seen some '08 aftershocks with Dubai.)

-India & China really is in a bubble and crashes, lowering worldwide agricultural demand (El Erian & Gross at Pimco have hinted towards this)

-strong US dollar rebound vs. aussie dollar (Assuming all of us here are long agriculture, I think we've all felt today's USD bounce caused by fear of an earlier rate increase, possibly late 2010.)

-Legend production schedule delayed (already happened once)

-large dillution of shares

-stock has a VERY low float so its thinly traded and will be tough to exit quickly on bad news

I take a long term outlook and am willing to take on these moderate risks because of the huge upside potential.

Anyone ever heard of the thirds rule of tumb? The price of a stock is typically 1/3 due to overall market, 1/3 due to market sector, and 1/3 due to company. For the last year to year & a half, it seems its been 3/3 due to overall market. Legend is up 50something% YTD? So what, so is Best Buy...and nearly everything else.

As the overall market stabilizes, I expect individual markets and the fundamentals of a company will play a bigger role. When that happends, I'd rather own an unknown small cap company in deals with 2 countries that make up half the worlds population, levering up, and growing in nearly double digits even during a world wide recession, rather than a retailer (or any other company) in a developed market moving towards a delevered future.