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Biotech / Medical : 2015 Biotech Charity Contest

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To: BulbaMan who wrote (312)7/20/2015 2:14:45 PM
From: IRWIN JAMES FRANKEL   of 407
 
Hi Eeyore,

I think the answer is yes, at least on the companies that remain independent.

One of the mistakes we (at least I do) make is we get to know a company fairly well and have expectations based on what we know about the company. And when those expectations are fulfilled we will take our profit. But companies are essentially changing and growing all the time and associating the company with some set list of expectations understates what the company is or will be about.

This is not to suggest that there will not be cycles with peaks and troughs.

This view is even more likely to hold true for a highly-taxed investor - a factor that will become more important in the future if I am correct.
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