Bill and others:
I got a copy of the Franklin Fund annual report, 4/30/98. No record of AGPH held in the Global Health Care Fund, also managed by Von Emster. In the Biotech Discovery Fund, there was no record of shares sold short, and there were 60,000 shares of common held long (aggregate value $2,040,000). It was one of the larger holdings, but it didn't quite make the top ten.
So, since you got the inside scoop from his wife, one might assume that he sold all 60K shares and then some.
His short positions at 4/30 were BGEN, Biora AB (ADR), ELN, ICOS, PDLI, SANG and TKTX.
His taste is OK.... he has some great longs, and some really lame ones. Big long positions in great picks (e.g., NXCO) and in crash stocks (e.g., TXB). So..... his long portfolio looks like his short portfolio.... big winners, big losers.
Rick |
