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Biotech / Medical : Biotech Valuation
CRSP 55.11-2.6%Nov 7 9:30 AM EST
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To: LLCF who wrote (6591)6/20/2002 8:54:29 AM
From: Elmer  Read Replies (1) of 52153
 
<Geeez, when will it end>

My guess is that it's over at the end of confessional season two weeks from now (this is a prediction from a guy who has been uniformly wrong for months :-(( or more).

There are some great bargains for those with the stomach and capital. Unfortunately, my stomach is weak and my capital largely committed. I hope you are in better shape.

I would love to see some munches occur by big pharma but the obvious problem is that big pharma, after the BMY/IMCL fiasco, is more risk adverse than at any time in memory.

So, the only thing that may start a recovery is the depressed valuations. Stocks like AMGN, MEDI, IDPH and DNA are priced close to their 3-5 year expected growth rate times forward eps. This may attract the GARP crowd. At least, we can hope.
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