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Biotech / Medical : LIPO-Liposome

LIPO 0.410

+10.2%

Nov 21 3:41 PM EST

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To: John Rowe who wrote (543)	11/13/1997 8:49:00 AM
From: Worswick	Read Replies (1) of 900

John: As I said you gotta wait for the crash and the sound of breaking glass. I know people who thought the bottom on this stock was 10 and now they have a 50% loss. The problem here is Biotech is having it's bi-yearly run at the races with big prices being fetched for the biggies. The exercise is, "What exactly is the bottom on biotech shares?" As I recall I tried to start a fund in the early 90's late 80's to buy biotech wrecks. Thinking back my rule of thumb of what value was.... ...you buy it for the cash in the bank. That is, in LIPO's case, around $2.35. The other question here is "Will the world fall apart in the next ten days?" If it does believe me $2.35 is on the high side. The problem with LIPO is that the analysts just keep marking down the damn earnings.

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