Stock picker prescribes a dose of biotechs
moneycentral.msn.com
Remaining cautious on what he calls an overvalued market, Paul Abel, senior vice president of Kinetics Asset Management and portfolio manager for the Kinetics Medical and Kinetics New Energy funds, is searching for opportunities in solid companies
Abel is turning his attention to biotech and pharmaceuticals, attracted to profitable companies like Pfizer (PFE, news, msgs). "Pfizer is one of the greatest companies in the world," he says, citing the billions of dollars the company spends on research and development. "The possibility of blockbuster drugs coming out of Pfizer is extraordinary. They have the ability to deliver 20% year-over-year growth," he said. "It's an extraordinary company." |
