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Biotech / Medical : VD's Model Portfolio & Discussion Thread

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To: scott_jiminez who wrote (7918)	5/2/2000 11:52:00 PM
From: Mike McFarland	Read Replies (2) of 9719

There is nothing 'prudent' about speculating in the stock market. On the other hand...the bears are all up from their winter hibernation--even saw Jim Grant on teevee today. That is probably as good a buy signal as you are going to get. Hopefully we can recapture half the gains we lost when the momentum reversed (in some we have already). Then go a third cash in a month or two from now. This market could be a lot scarier--what if the Nasdaq soared 400 points in a day--then I'd think 1929. I don't see the entire market racing up--much of the speculation has been squashed. That is not to say that Yahoo is worth 66B, but at least the inets are not moving up, just sort of trading around. If biotech gets whacked again, it will be because of an inut meldown that spills out all over the place, not because bio valuations are universally extreme. What I'd like to see are some takouts and mergers. We only have a few car companies, just a couple of railroads--I want to see this sector get a little more consoldated. Wouldn't it be great, looking in my own account, if TGEN, AVGN and CEGE were one company? Why should I have to wrack my brain over owning Myriad, Genset or Orchid? Well, I suppose twenty years from now they could all consoldated in to Merck and Biogen. But be careful what you wish for right? I'll bet I get scolded for not being especially 'on topic' sorry 'bout that--I'll go start a thread and stay there. Subject 34413

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