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Biotech / Medical : Biotech Valuation

CRSP 57.37

+0.9%

3:59 PM EST

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To: Biomaven who wrote (8373)	5/16/2003 10:09:41 AM
From: Biomaven	Read Replies (5) of 52153

(OT for "biotech", but not for "valuation" <g>) It looks increasingly likely that dividend tax relief is for real. This is an even more profound change in the tax landscape than it appears, particularly for private companies - historically it's easy to put money into a company, but hard to get it out without paying tax. But what will it do to the equity markets? Here's what I can think of: 1. Help high-yielding stocks (to the extent they are held by tax-paying investors). Utilities are a good example. 2. Hurt municipal bonds, treasuries, and likely REITS 3. Help preferred stocks (at least I assume so - perhaps depends on the details of the bill). Where convertible preferreds/debentures fall I'm not sure. On the topic of preferred stocks, a few weeks ago I saw an article about mutual funds that invest primarily in preferred stocks. I can't find the article again. Anyone else see it? It was someplace like TSC or Forbes or the like. Anyone follow any preferred stocks? Can't say I've ever owned one in my life (except for Chrysler preferred just before they resumed their dividend, which was a very interesting story.) Peter

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