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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: LLCF who wrote (2929)	6/22/1999 10:12:00 AM
From: mauser96	Read Replies (1) of 54805

Well i wouldn't go that far, but they are hard to find. Tech stocks ( at least until the MSFT trial) have only to contend with the forces of the market place. Pharmaceutical companies not only have to cope with the market place, but also politicians and a legal system that doesn't believe in individual responsibility but does believe in deep pockets. Most drugs can be copied with some effort because the chemical structures are complex so it's easy to make some minor change. The limited patent life is impinged on by long approval times. A good example is the Cox2 inhibitor NSAID drugs - Celebrex exclusivity didn't last long. I believe the GG book doesn't include drugs. I would still buy one, but only at fire sale prices. They are too expensive for the growth rates and risks involved in most cases. Ac class action can cost a drug company years of profits, even though they weren't to blame, and all scientific evidence is on the side of the company. Mass hysteria wins every time over cool analysis. My only medical related stock is Pharmacyclics (based on the excellent science) but I regard this more as a day at the track than an investment.

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