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Politics : Ask Michael Burke
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To: Skeeter Bug who wrote (695)8/22/1996 10:59:00 PM
From: Andy Chen   of 132070
 
"margins go south --> profits go south"

competition exists in all business, unless you have a monopoly like Microsoft or Intel. Michael doesn't like techs, but Michael seems to like drugs and biotechs.

drugs --> unless you produce proprietary medicine, your business is open to "competition" and pricing pressure. likewise, margins get hurt.

biotechs --> most of these companies don't even have a margin to be evaluated. they don't even make money. even if they come out with a break through discovery, there are usually substantial competiton in every single field. no single company survives. thats why Michael tell you to buy the "whole basket."

competition is just a normal aspect of high-growth business. everybody wants a piece of the gold mine. to use competition as a reason to refrain from investing in tech is an act of ignorance. not wisdom.
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