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Biotech / Medical : AXYS Pharmaceuticals Inc.

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To: Dr. John M. de Castro who wrote (291)	7/1/1999 9:40:00 AM
From: LLCF	Read Replies (2) of 455

<Seeing this mindless dumping of AXPH, though, provides a clear view of what he was talking about. You can even manage to waste money managing an index fund if you do it badly.> Absolutley... for everyone who thinks index fund managers have (and some non-index clowns) have a clue... AXPH provides a nice, close to home example. For the extreme example check out the chart on ABRX! Some dopy fund manager thought he had to own it due to index weight changes yesterday. In reality the shareholders have already tendered 98% of the stock to Ceridian at $25.50... the bone head couldn't get any stock and chased it to $90 per share where all the sharpy investment bankers (I was at dinner with my partner! damn... others in my office shorted the stock) let 'em have it. Last sale $30. << He claimed it was because their fund managers were expert in execution. > Yea... right, I see. DAK PS... AXPH, $4 last. :)

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