Another day, another shitday for Novo $NVO as their long-term pipeline plan and revenue where underwhelming, aiming for revenue growth in line with industry peers from here to 2030. Perhaps my best decision this year was to sell $NVO over half a year ago and buy Micron $MU instead, when I realised the management sucked and the pipeline is getting them nowhere compared to Eli Lilly $LLY. Served as a good lesson of a classic "value trap". On the surface, it looks strongly undervalued compared to its competitor Eli Lilly. But beneath the surface, managerial concerns, a lousy pipeline and very disappointing results from CagriSema (even underperforming tirzepatide) were legitimate factors that compressed the valuation multiple.