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Biotech / Medical : Biotech Valuation

CRSP 56.68

-2.4%

Dec 12 9:30 AM EST

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To: scaram(o)uche who wrote (429)	10/14/1999 6:56:00 AM
From: Jim Oravetz	Read Replies (1) of 52153

OT -- Losing Money with Michael Murphy by Pat Dorsey \| There's an old saying about annual reports that says they're best read backward, starting with the footnotes. If you approach Michael Murphy's Every Investor's Guide to High-Tech Stocks and Mutual Funds in the same fashion, starting with the acknowledgments chapter, you'll find out that Murphy "took a triple dose [of LSD]" and subsequently robbed a bank in the mid-1960s... Unfortunately, Murphy doesn't just run a bad fund; he's also written an underwhelming book. After starting off with the bold assertion that an investor's technology allocation as a percentage of total assets should be "100 minus your age," he goes on to state that half of every investors' technology allocation should be in biotech. Although I'm not sure how appropriate it is for 75-year-olds to have 25% of their assets in technology, Murphy is pretty blas‚, because "thanks to biotechnology, you're going to live a long time." Here is the rest of the review: news.morningstar.com LOL Jim

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