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Biotech / Medical : Insite Vision Inc.
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To: bob s who wrote (592)12/25/1997 10:24:00 AM
From: Robert Mayo  Read Replies (1) of 1060
 
"...I was merely stating that this whole biotech area (for the most part) has been a disaster for many and tax selling may not be the basic reason for the slide. ..."

My foray into the biotech sector has been a "mixed bag" too. Oddly enough, despite being "underwater" in my current Insite holdings, INSV has been a profit center for me overall. While I've had a core position in the stock for over two years, I've also had a trading position from time to time that has made some money. Unfortunately, I took a full position in the stock last August and have been holding ever since.

I fully expect Insite to move up sharply over the next few months, at which time I'll probably sell. This will be my last flirtation with the biotechs. While I agree with Mike Murphy about the promise of the sector, the companies in the group are generally very high risk investments. The potential for big payoffs is there but, usually, those are years away_with numerous pitfalls along the way. As you wait for the "big payoff" you tend to be saddled with "dead money" that could probably be used more profitably elsewhere.

New Years resolutions are usually broken quickly, but I have one I intend to keep: to lower the risk in my portfolio. It'll take me a while to impliment as I unwind positions, but it'll be done ASAP. No more biotechs for me.

Bob

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