"Let's do the silly thing of actually checking performance since the market peaked."
OK, but as scientific types, let's take indices instead of a short list of arbitrary subjects. Your date was since 3/1/00. On that date, last quote for AMEX Biotech, $BTK, was 739.81. For Philly Semiconductor, $SOXX, the last quote was 1172.18 then. Using today's last quotes to complete the comparison, $BTK closed at 523.66, down 29.2% since 3/1/00. $SOXX closed at 634.82, down 45.8%.
Torben's point was that since drug companies are not issuing regular downward warnings, then companies that seek to become drug companies give more comfort than retailers or techs. Also, Torben had the grace to make a funny philosophical comment, which was a bright spot for today -:) |
