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Pastimes : son of T/FIF -- Ignore unavailable to you. Want to Upgrade?

To: Doc Bones who wrote (13)	8/10/1999 3:47:00 PM
From: scaram(o)uche	Respond to of 673

Doc: Welcome to the posting side of SI. If they started to try and kick it at 18, they're losing. For future posts, I'm not much interested in anything that "one" has to say about a biotech. Nice pointer, however.... always good to know how minds are grinding and angles are established. Thanks. Rick

To: Doc Bones who wrote (13)	8/13/1999 4:49:00 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 673

closed the week at 22 5/8. shorts in biotech are embracing dogma..... they have seen companies go up and come down, based on unrealistic hype. the pattern is typical, so who'd blame them. trouble is, research premiums have been beaten on and beaten on since 1996. it reached a point where a dollar can be purchased for a dime. the dogmatic among our readers will come back and say "yeah, but a biotech buck is worth a dime." when I talk about a dollar, I talk about historical research premiums, and about "bets" placed on future value. We know from the Amgens, Biogens, Genentechs, Immunexes, Agourons, Genetics Institutes, Idecs, etc. of the world that a diversified platter of such bets can pay enormous returns. Thus, I'm talking about a buck pre-discounted for risk. T/FIF bucks. there are 10-baggers out there. none of those who are shorting BCRX count on it being among them, or take the time to value a model where the BCRX neuraminidase inhibitor could be the preferred molecule. they should, but they don't I haven't done such either, so I don't have an opinion on the current valuation. we're in the wrong thread....... Subject 29631 There were some interesting setups this week, perhaps including Biowa's run to ICAAC. OSIP was certainly weak, low volume selling not being met by a buyer. I had a good -- not great -- week, largely due to some lucky timing/trading and throwing in an assist from the esteemed folk at Biotechnology Value Fund. Hope everyone else did as well, and that everyone has a great weekend.

To: Doc Bones who wrote (13)	8/17/1999 10:50:00 AM
From: scaram(o)uche	Read Replies (2) \| Respond to of 673

Doc: 24 5/8. In biotech, it's better to be insightful than loud. As we observe future "pops", the question should always be "how much is the research discounted, if at all?" There are still several small caps that could 4X on any given day and still be undervalued on the basis of time-discounted potential. One just needs to differentiate the companies with leverage from those lacking such. Hope you posted as an observer rather than from a short position, and, again, I haven't looked at the complement inhibitor program for a couple of years..... I don't know if it's undervalued or headed for 5. Cheers! Rick

To: Doc Bones who wrote (13)	8/24/1999 11:42:00 AM
From: scaram(o)uche	Read Replies (1) \| Respond to of 673

$26/share. They're hurting. A year ago...... Message 5649545

To: Doc Bones who wrote (13)	8/24/1999 3:53:00 PM
From: scaram(o)uche	Read Replies (2) \| Respond to of 673

30 and change.... now they're not only hurting, they're getting margin calls. I'd contact the "hedge fund" guy or gal that started the thread and guide them to threads where they could learn about discounted research premiums, but..... it's really to our benefit that they continue to trash and short biotechs without first having done their homework. The same guy or gal was part of the gang that created the crater in VPHM.