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Biotech / Medical : Biotech Valuation
CRSP 55.11-2.6%Nov 7 9:30 AM EST
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To: Sam Citron who wrote (7375)12/3/2002 3:36:32 PM
From: Jacob Snyder  Read Replies (1) of 52153
 
Biotech valuation:

Buying biotech when many of them are selling at cash or near-cash levels, is going to look good a few years from now.

BBH (biotech index tracker) topped at 240 in 2000, and the latest low was 65 in July 2002, a 73% decline. The rebound off that low reached the low 90s, where it has repeatedly stalled. I've been selling in small increments, every time it stalls at 90. Will add to my remaining long position, at 85 and every 5 points on down.
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