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Biotech / Medical : Incyte (INCY)
INCY 102.05+0.3%Nov 21 9:30 AM EST
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To: Vector1 who wrote (724)9/2/1998 10:16:00 AM
From: Berk  Read Replies (2) of 3202
 
Vector
Somewhat OT. If you have time, I'm interested in your thoughts on the market environment that we currently are in and which is certainly reflected in biotechnology: a strong bull move in the larger caps and a significant bear market in the smaller caps. The AMGN, BGEN,GNE, etc have done well while the GZTC, LGND's have collapsed. The scenario is played over and over. In your backyard AMAT is selling at a large premium to its group which in some cases go for close to cash value (BRKS). I can come up with only two alternatives to resolve the dichotomy: at some point we either collapse vis a vis the late 1970's (the Nifty Fifty were picked off one by one in a massive bear market) or we do the 1980's thing, LBO's by VC's (Bill Simon where are you now). Obviously the latter is the preferable alternative but from your perspective in your "main" occupation is the environment right for it? By the way the reason for the 70's "one decision" attitude was not the same as today but the result is the same.
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