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Biotech / Medical : Sepracor-Looks very promising
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To: AJAG who wrote (1810)2/21/1999 11:52:00 AM
From: AJAG  Read Replies (3) of 10280
 
Slightly off topic- I got an e-mail from a reader asking how I found SEPR as an investment in 1995 (when it was trading in the sub hat size range (6 dollars per share). Actually, I had two sources. The first was an article in Barron's which was an interview with a fellow named Mark Lampert, the investment manager of a hedge fund called the Biotechnology Value Fund. Lampert listed SEPR as one of his favorite stocks, and said at the time that it could go up 50 points for each
one of its drugs that actually made it to market. Lampert, as I remember, was negative on Calgene due to financial problems (the were taken under by Monsanto). The second source was the Sturza Medical Investment Letter, which started recommending SEPR in mid-1995. By the way, the Sturza letter (delivered by fax weekly) is much better than the Medical Technology Letter by Jim McCamant or Mike Murphy's California Technology Letter. I bought Amgen in the late 1980's due to a recommendation from a friend who worked in the venture capital
business. I have worked on Wall Street for 25 years (lawyer). I was fortunate to have heard about Microsoft in 1986 when I was in Seattle working on a business deal. My biggest investment mistake was selling my original Microsoft investment for a 500 percent profit.
Moral of the story- When you stumble upon a unique investment like a SEPR, never sell it, keep investing more on the dips and ignore the chatter about overvaluation. PS- I also bought CSCO in 1992 and still have most of my original investment. I am learning.
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