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Biotech / Medical : Vivus, Why the Slide?
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To: Tunica Albuginea who wrote (3924)9/25/1997 11:13:00 AM
From: DDS-OMS   of 3991
 
TA,

Travelers didn't pay a dime for Salomon Bros--they gave 1.13 of their inflated shares for 1 inflated share of SB. TRV's PE is 19, SB is 21. TRV book value/share is 21, SB's is 42. They move in tandem in the market, so if SB went down in a bear market, so would TRV and the net effect would be nil. Silly argument, TA--besides TRV doesn't know when a bear market will hit any more than you or I do.

This economy has been described as a Goldilocks ecomony--juuust right. What better do rags like WSJ and Bear-ons have to do than continuously wail when the market is rising so that they can trumpet that they were the first to warn of a bear market when it finally comes. Of course, Barron's has been doing that for 2 years or more.

Two months ago you supposedly sold all--went 100% cash because of market fears. Tuna, you are aptly monikered--you flip-flop like a fish out of water!!<GG>

On August 1st you wrote: " I am essentially still 100% in cash and I have to look long and hard before going back in because even though Vivus is a great stock I don't know to what extent it can with stand a big correction if it occurs. The market is extremely high/overvalued and chances are IMHO that it is more likely to go down than up."
You soon after changed you mind, but what in the market has changed since Aug 1st--other than your enthusiasm?

A chilling chart:

home.sprynet.com

Regards,
Gary
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