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Biotech / Medical : VD's Model Portfolio & Discussion Thread

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To: Peter Singleton who wrote (5425)	8/5/1998 11:52:00 AM
From: Thomas M.	Read Replies (2) of 9719

I'd say biotechs are not too far from the point where they stop going down even as the market plunges. Maybe another 20%??? Looking at my portfolio, winners like SEPR will obviously get hurt much more than losers like NRGN. IMHO, China is close to cracking, making the Asian problems worse. To add to the Asian worries, one must remember Y2K. Last fall, we had Asia down a lot and the U.S. down a little. This year, I think we get Asia down a little and the U.S. down a lot (30-40%???). What interests me about the macro picture is that the market closely resembles the late '60s and early '70s, but the economy resembles the '20s. That leads me to a quandry as to what sort of result we will have. I still lean away from the Great Depression view. At least your crystal ball isn't as shifty as Acampora's. <g> Tom

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