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Biotech / Medical : Biotech Valuation
CRSP 56.68-2.4%3:59 PM EST
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To: Biomaven who started this subject8/26/2001 2:34:02 AM
From: Doc Bones  Read Replies (1) of 52153
 
[OT] - A new book by Christopher Byron delete your broker.com looks pretty good as a general guide to online investing. It's fairly basic but fills in some blanks for me. The list of URLs in the appendix is useful.

However I want to address another aspect of it, which some will consider [ot], but others will grasp the significance of. Speaking of brokerage research reports, Byron says:

But generally speaking, the highest quality reports have been almost completely unavailable to individuals--at least until after the investment firms that prepared them have shared their contents with their major institutional clients. This in turn means that the opportunity for individuals to profit from the buy or sell recommendations contained in the reports have all been exploited and leeched away by the brokerage firm's institutional clients by the time individual retail clients ever see them.

I think that "leached" is right here. "Leached" is usually going to be correct in front of "away," but more importantly the reports are written because the institutional clients pay big bucks for them, there is no sense in which they are "leeching" the opportunities (should be plural).

To understand the importance of this, see:

Message 14279781

in which Peter (grudgingly) admits he was not "leaching" off Rick, he was "leeching" off him.

Now, exactly one year later! The circle is closed, the other shoe has dropped, we have closure at last. <g>

Doc
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