USA Today: Aging boomers sweeten biotech
www.usatoday.com/news/comment/colwag.htm
Someday, scientists may be able to create self-clipping poodles and lobsters the size of helicopters. But is that reason enough to invest in biotechnology?
Not really. There are far better reasons. The best: There are 78 million baby boomers who aren't getting any younger -- and who will need health care. Health and biotech funds are up a blistering 17.1% this year, vs. 1.2% for the average diversified stock fund.
Most of the move has been from small biotech companies, not giant pharmaceutical companies. Merck, for example, has fallen 17% the past three months, vs. a feverish 97% gain for the American Stock Exchange Biotech Index. Why the run-up in biotech?
[...]"Tech investors are discovering that biotechnology stocks are undervalued," says Andy Summers, biotech analyst at Invesco. [...]
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Not sure if bioengineered lobsters would be a good investment at this point, at least not ones the size of helicopters! Maybe if you were having a block party, then again, who has a pot?
Jim |
