IDPH--Positive preliminary results for pivotal trial of ID Message Board

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Biotech / Medical : IDPH--Positive preliminary results for pivotal trial of ID

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To: Julie Suk who wrote (199)	12/9/1996 9:38:00 PM
From: I. Luttichuys	of 1762

Hello again Julie, I forgot to directly address something. I realize a stock's price has nothing to do with how a company is doing. NVLS for example, I bought because it is doing better than its price indicates. I check on these things before I buy. I look for good growth in earnings for the keepers. My thoughts on the way to invest is to select companies which are solid in earnings and prospects but which are not seen that way yet. This means I don't own alot of different stocks. Usually the best way to do this is find a depressed industry and see if there is a company within that industry which has a string of record earnings inspite of the fact that its peers have not. If it has been unjustly dumped with the rest of them you're in business. This works even if you know little about the industry itself it seems. Idec is another kind of pick. As you say, for some you need some knowlege if you are going to try to predict that a company is going to go to a place it has not been before. Here you can't say "this stock is selling for 1/3 what it was one year ago and yet per share earnings are almost twice as high". With a new biotech it gets alot more complicated. You need to understand the drug and the industry and the patients etc. to try to predict the future in a sense. You don't have a ridiculously low P/E multiple and 12 quarters of record earnings as the stock's price plummets to help you decide to buy simply on the basis of the mathematically unsustainability of it all. Anyway, I'm typing so fast right now I'm almost sure I'm making no sense. Hope no one minds the digression from IDEC for a couple of posts! Hope you are having a good evening, BENNETT

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