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Biotech / Medical : DYAX: Dyax Corp.
DYAX 38.410.0%Jan 25 4:00 PM EST

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From: aknahow2/14/2002 11:45:35 AM
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Like the company, was surprised about the fx losses. Would have thought they could have hedged their exposure. Conference call mentioned several times the negative impact on their earnings on cash balances. Increased my position, even though it is obvious the market did not think highly of what was said.

Comments on the impact of low interest rates make me think about the impact on those who raised a billion or so at 9% using qualified special purpose entities and are now earning at most 2% on the funds. Translates to a $70 million loss, per year, if you ask me.
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