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Biotech / Medical : Biosource International
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To: Robert T. Quasius who wrote (186)8/30/1997 5:19:00 PM
From: Joe Dancy   of 696
 
Interesting your take on book value and buying oil companies based on discounts to book. You need to be careful with those babys - as I recall Cheapeake Energy and Enserch Exploration just had big write downs in reserves - so the book value for the oil guys is not always what it seems. Same for finance companies - the loans may be on the the books but may not be performing.

Here, I don't think the downside is much if the company can keep growing like it has, and the biotech area certainly is not going away in the next few decades.

Like you, the trailing PE and the estimated growth rate made this one stand out - then the growth in revenues also jumped out at me along with the analyst recommendations and biotechnology area they are fishing in.

Best - Joe
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