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Biotech / Medical : Biotech Short Candidates

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To: tuck who started this subject8/3/2004 3:07:11 PM
From: tuck   of 897
 
BSCP decides to take its lumps on QLTI short. It was based on the thesis that Visudyne sales would slow, but that looks erroneous for the time being. Uncertainty about the ATRX munch and seasonal biotech weakness have hurt it a bit, but I don't expect the summer to get much worse. Closing at $16.75, about a 45% loss. The portfolio as a whole has nevertheless returned an annualized 20%, roughly, in three years. Not bad, two were down, one was up.

Cheers, Tuck
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