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Biotech / Medical : Millennium Pharmaceuticals, Inc. (MLNM)
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To: BostonView who wrote (431)12/2/1999 11:12:00 PM
From: Charles Holewinski  Read Replies (1) of 3044
 
With a PE over 140 and no products on the market yet one wonders how much further this one can go. But then in this crazy market we have today where the long term seems to be twenty years out MLNM seems to be perhaps the first stock to match the trees growing to the sky.

I stumbled on to MLNM several months ago when I heard it recommended on the Nightly Business Report. At that time it was 35 and selling at a 52 week high. Liking the name Millennium Pharmaceuticals and the business it is in, I bought 500 shares the very next day. When it dropped to 66 on the announcement of its buy out of its only competitor I sold 300 shares. I intend to hold the remaining 200 shares forever. I just wish I had another 75 years of life left. Companies such as MLNM today are where GE was at the beginning of this century and MCD, IBM and others where when they first starting out. MLNM is one of those which in years to come will make millionaires of those who only bought 100 shares today. Many will say "If I had only bought MLNM."

If there are any serious pull backs I intend to pick up more but at 100 and with a high PE I am very cautious here. I just thank fate that I was able to get in when I did.

Perhaps I am too optimistic here but if this company is managed properly the products they will discover will cure health problems which have remained a mystery until now.

For those who are a little nervous at the current 100 price I say sell enough to recover your purchase price. The remaining shares can be viewed as being free and holding them forever won't seem so reckless or cause stomach problems.
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