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Biotech / Medical : Biotech vs. Shorts
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To: Biomaven who wrote (36)7/26/1999 10:26:00 PM
From: LLCF   of 427
 
From Barr Rosenberg:

<The most notable characteristic of the Barr Rosenberg Market Neutral Fund portfolio is the net bias toward stocks with traditional value characteristics (lower price-to-earnings or price-to-book ratios, for example) and away from high trading activity stocks. These investment style biases have had a negative impact on the Fund returns over the most recent quarters.>

Peter is correct:

<I don't think these guys are evil rumor-spreading shorts - just blind quants.>

Famous for supplying B's, V's, and other greeks to those employing MPT in the beginning. Just HAD to get into the money management game. But biotech?? "Traditional value methods"... sad, just sad. I had so much respect for Rosenberg in my early years working in derivatives... These guys get a good name, and then there is so much money thrown at them that they just HAVE to stretch and put it to work. You can see why I'm so down on the money management business, all anyone cares about is getting every dollar they can under management. Reminds me of Scholes over at that hedge fund that blew up... good ideas gone bad due to greed. I hope they're short the next ENMD that keeps going! Rick may be right however.... something like "these are the guys shorting everything??? Great!

DAK
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