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Pastimes : Home on the range where the buffalo roam

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To: Sig who wrote (9471)	10/21/2002 10:36:37 PM
From: pbull	Read Replies (1) of 13815

The President's decision today is bullish for drug stocks across the board. The big boys now must spend more for research and development in order to replace the drugs coming off patent. That's good for all of us, a real win-win in my opinion. And Barton Biggs was right on the money. He's really not a bad guy in a non-mania environment. I stopped at the book store on the way home and Forbes had a list of their 200 best small companies. Remember lists like that? Back in '96 or '97, all of those stocks had PE's of 40, 50, 70 or higher. It was just insanity. You should look at it now. Good quality, smaller companies growing at 20 percent trading at 12 times earnings. Now that's a risk/reward I can live with. By the way, the Laboraties Corp. of America finding came from my perusal of Janus Mercury's latest holdings. He owns very little in the way of tech (which means he's a big buyer once things get moving again). LH was his No. 7 or so holding. To me it means there's paying attention to valuation again, but man, there are some screaming bargains in here. PB

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