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Biotech / Medical : Clinical Research Organizations-CROs

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To: RWReeves who wrote (20)	12/28/1999 4:57:00 PM
From: RWReeves	Read Replies (2) of 46

CRO Year End wrap up. Since I'm wrapping up performance for the LTAB Small Wonders portfolio, thought it would be good to touch on CROs as well. Overall, performance of the unmanaged CRO basket has been up 8.4% since portfolio inception of 11/19/99 (let's say 40 days). siliconinvestor.com Looking at individual stocks has been more profitable. As I mentioned, I like KNDL especially and it has been up well. QTRN has been very disappointing, it's the NYSE capitalization brute of the bunch. I did sell of my QTRN holdings (which I consider very long term) to chase genomics momentum and that's been a decision without regret. Come January, I'm re-establishing positions in QTRN and adding a few others. CRSC had a nice a nice run. A rare opportunity to do a day trading in a CRO. I will also be adding RX to the portfolio, which for those of you in the industry will recognize as IMS data- THE source of data for drugs, diagnostics, etc sales. It really is the data gorilla, although not technically a CRO does provide data to pharma/bios. Think its a fit, please read the 10K its is very informative as to how this works. Been too busy churning...ah.. trading the portfolio to post much, hope to do more next year, perhaps adjust the portfolio for the relative prospects. I may add ILXO, which also provides specialized clinical trial services in the cancer area as well as doing it's own product development. Look for improvements in the sector as investors realize increasing regulation and price pressure mean more trials and more pharmaco-economics. Best Holiday wishes to all... RWR

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