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Adam Feuerstein Strawman Fallacy

|Includes: Amarin Corporation PLC (AMRN)

A strawman argument is a rhetorical device that is meant to easily prove that one's position or argument is superior to an opposing argument. However, the straw man argument is regarded as a logical fallacy, because at its core, the person using the device misrepresents the other person's argument. The person does this because it then becomes easier to knock down the weaker version of the opposing argument with one's more substantial counter argument. The term straw man derives from the use of scarecrows for military practice, such as charges. In reality, a scarecrow is far easier to defeat than an actual person.

In AF's article, he 100% misrepresents what I stated:

1. "Heisenberg's base assumption is that Amarin's prescription-grade fish-oil pill Vascepa is no different from the fish-oil supplements available in grocery stores."

I made no such assumption (until the very end as a concluding and stated opinion). I mentioned that there's no clinical proof either way. And there isn't. Other OTC fish oil pills are and will continue to be competition for AMRN.

2. "If FDA questioned whether Vascepa and OTC fish oil were the same, the agency could have demanded OTC fish oil be used as the comparator against Vascepa in the MARINE trial"

It's the FDA's job to decide safety and efficacy versus placebo not versus competitors. Concern or not, there is no clinical evidence that AMRN's snake oil is any better than OTC fish oil. It might be, but there's no clinical evidence either way.

3. "Published studies have not found regular fish-oil pills lower death rates or reduce heart-related disease."

I know this. That was part of my point. You are just repeating me rather than countering me.

4. "A lot of the bad news and worries about the Vascepa launch are baked into the stock at this valuation."

$1.3 billion market valuation. One drug with one indication. Negative book value. Huge losses expected by all 10 analysts. "Meh" ?

Conclusion -- Though I grown to respect your research and viewpoints, Adam Feuerstein, you didn't critique a single thing properly in this instance. Perhaps I should have made my points more clear, and you wouldn't have made the sloppy misreads that you did.

Disclosure: I have no positions in any stocks mentioned, but may initiate a short position in AMRN over the next 72 hours.