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Biotech / Medical : Biotech for less than a buck.

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To: RWReeves who wrote (288)	12/28/1999 5:41:00 PM
From: RWReeves	Read Replies (1) of 743

Report Card time "Small Wonders" The portfolio that started out as "Biotech for Less Than a Buck (BTFLTAB)is now 90 days old (inception 9/28/99): siliconinvestor.com Performance: 90 days: + 83.5 % 1 day -1.2 % I will probably leave this unchanged and edit a revised version of the portfolio with a different name (a Millenium edition of SW?) for the position changes I've discussed recently. I cut back several positions to free up investment capital for more new issues and cut back some poor performers for "window dressing". All in all many issues did better than expected. ARIA obviously we had great expectations for, added a big double up position and it did OK. I expected to see 5 bucks by now, however. Laggard. LGNDW I had a $5 target for it and it hit it earlier in the month. I expected LSCP to be bought out, which has not happened (yet). NERX and IMMU are riding the cancer therapeutics move. As I mentioned, IMMU is a 10 bagger on the original position in 90 days; something I did not forsee (obviously) when I sold them out and bought them back at around 3.5. Good example of re-alignment of assets for maximum value. No real genomics plays although I have a few in the works and an anti-sense or two (ISIP, come to me!) Oddly enough, I think the buy it and forget it strategy worked well, with the volatility in these issues it seems daytrading would probably have done poorer. Will look to add some options next year as well. Best Wishes for your New Year celebrations and Y2K investments. RWR

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