I just read Emster's interview in the Wall Street Transcript on biotechs(9/28/98) and was singularly unimpressed. I believe it's his hypothesis that biotechs with caps under $100 million are in essence "dead meat". Had I stuck with my MEDI at $13. and IMNX at $17., when no one else wanted to own them (including Emster probably), I would be searching for gemstones in South Dakota while retired! Where do people think price appreciation begins?!
I happened across the February '99, Kiplinger's, with the cover story
"Miracle Companies to Invest in Now", highlighting ISIP, CHIR, LGND, CNTO, and PGNS. The intro states "...Biotechnology is finally starting to conquer hard-to-cure diseases. That may be the signal for investors to climb aboard". Who know, maybe we will even see biotech IPO's before the millenium.
In fact, the street, with biotechs like AMGN, MEDI, IMNX, etc., topping $100., may actually have to expand their coverage in this area.
Richard, while you're here. Give me, if you will, a lay perspective on the BTRN release. Did this contribute to your buying 6000 sh BTRN? And, for good measure, have you ever heard of a company called Cypros. Any thoughts? I have a small position and have thought of convering it to BTRN.
BTW, I am not broke! Though, had you asked in August, I might have replied quite differently!!!! A little GILD, SEPR, INCY, CELG, and MLNM can go a long way. |
