asking for a favor.......
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March, 2000:
Could everyone, in the coming months, post what they learn regarding the funds and fund managers that/who are buying bad biotechs at the end of this quarter?
They're all driving up prices to absurd levels - especially since 99% of Biotechs are, in effect, worthless - and this will only result in a decade-long hangover which will be blamed on...fund managers, of course!!
Thanks, in advance.
Message 17624393
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In any other sector, a crash of the biotech magnitude would be attributed to excessive valuation, clueless investors, ethics-impaired management, etc.
In the sector where these tags are the most richly deserved (Biotech), the implosion is attributed to the selling of fund managers!
That's about as ripe as gets!!
[And who, pray tell, defines a 'good' biotech and a 'bad' biotech. The self-proclaimed mavens on SI have shown their stripes in the past 12-18 months: their chosen stocks (epitomized by the VD portfolio) have crashed and burned to a degree worse than a selection of BT stocks chosen by a blindfolded dart player. I dare anyone to suggest Ariad Pharmaceuticals to Ricky Harmon as a 'good' BT. Sorry, my objective fans, ARIA is all hype while BTRN is 'good'. Needless to say, ARIA is down 20% over the past 6 months while BTRN (and most of the rest of the sector) has crumbled ~70%. When someone on SI speaks of a 'good' biotech stock...RUN LIKE HELL!] |
