I started watching biotech in December, 2001.
A few biotech companies have had "real products, real sales, and real profits" for a while now. I question that this makes a "real industry". As you say, "Most biotech companies aren't making profits yet, and most of them are not complete companies, lacking marketing/sales, lacking the ability to jump through the FDA hoops, lacking financing, lacking other essential skills." In fact, there are questions about the whole business model and if most of these companies will produce a successful product, first, or run out of money, first.
In this environment, I wonder why you don't use your "special expertise" and build a basket of companies instead of using an index. |
