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Biotech / Medical : Munch-a-Biotech Today

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To: LLCF who wrote (172)	2/22/1999 10:11:00 PM
From: scaram(o)uche	Read Replies (2) of 3158

David: To state the obvious.... investment bankers do not want a critical evaluation of their deals. They do not want people to ask the tough questions, the questions that can't be answered or to ask about the stuff that will attract spotlights a couple of years down the road. There are a few analysts who care about good science or about being correct. Otherwise, they appear, IMO, to want to hang around long enough for the special career op or to get rich on trading and retire after 10 years of bad calls. Don't mean to imply that all analysts stink. I've worked closely with one who is actually quite good. Very surprised to see this move by BGEN. There is obviously tons of confidence in the pipeline.

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