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Biotech / Medical : Biotech Valuation

CRSP 51.59

-1.1%

3:59 PM EST

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To: Scott H. Davis who wrote (2424)	12/30/2000 1:33:33 PM
From: scaram(o)uche	Read Replies (1) of 52153

Scott: Exactly. Those who bought into "underwriter and analyst dogma" at the height of biotech mania got killed. TD is correct..... weighted baskets will perform as he predicted. But, given the collective experience and insights of SI biotech, why spend time and effort studying dogma? "It's The Science Stupid" is always an easy answer for dogma. The secret to above-average success in biotech is described in the T/FIF threads. However, there was no role in biotech investing for such lessons over the past nine months...... it was largely an issue of riding market phenomena. GLGC, CRA, etc...... those were hard lessons learned, but they were predictable and predicted. The offerings were close to theft, IMO. Lots of cash, both CRA and GLGC are now price:book of under 2 and better than 85% off of their year's high. Happy New Year, all! Rick

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