Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Archie Meeties who wrote (56995)	12/7/2004 3:38:23 AM
From: Seeker of Truth	Read Replies (3) of 74559

Hello crier of "Eureka".Biotech doesn't differ that much from "tech stocks" i.e. electronics and computer software. Highly competitive,products obsolete over night.Most profits are for the hereafter. Biotech is even more appealing to the imagination than the usual tech stocks, hence the overvaluing can be worse. I'm always intrigued by the way big pharma stays away from these little firms until they "have something". Then they arrange a deal of licensing or acquisition. I think biotech investors are altruistic heroes and heroines. They finance research which is so risky, i.e. the chance of coming up with profits so remote that those who have been in the field for decades don't touch it.Most of the money goes down the drain; that's the way it is with risky research. Occasionally a great advance,helpful for the health of millions. That's why they are heros etc. Heros, not millionaires. About your other point, it is good to remember that the SPR will become full some time in 2005. However how can you count the SPR as inventory when it is not for sale until some crisis arises which would send the price of oil high high up anyway? I'm not saying I know which direction oil will go next year. Just want to discount too much consideration of the SPR. Ceasing the filling of it will mean less purchases of 100 thousand barrels a day, perhaps?

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