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Biotech / Medical : Biotech Valuation

CRSP 54.42

-4.0%

10:36 AM EST

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To: Biomaven who wrote (8631)	6/5/2003 5:58:14 PM
From: Icebrg	Read Replies (2) of 52153

>>Nobody rings a bell at the top. >> I know from my own experience that this is perfectly true. Still, I think that the important thing is to have mentally sorted out what the exit strategy should be and just execute it. I am pretty careful to rebalance the portfolio when I feel that one security grows too much. I have "lost" a fair amount on Elan because of this over the last couple of days. A strategy I would rather like to employ is to sell after a share has lost x (perhaps 5 or 10 depending on preferences) percent from its most recent high. If properly executed this should ensure, that there are no major opportunity losses, giving some leeway to the fact that these things tend to move along much further than what we in our wisdom think is reasonable. With such a strategy there will of course not be any protection against an implosion-like movement by all stocks at the same time, but most of the other scenarios will be covered. One of my problems working from Sweden is that my transactions costs are very high. Not only on the actual buying and selling but also the very bad exchange rates my bank is giving me. So, I am rather reluctant to "trade" it it at all is possible. Erik

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