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Biotech / Medical : Biotechnology Value Fund, L.P. -- Ignore unavailable to you. Want to Upgrade?

To: JFitnich who wrote (1118)	12/12/1999 11:42:00 PM
From: scaram(o)uche	Read Replies (2) \| Respond to of 4974

Comments? Wow. Everybody will have their own read. The thread changed because the similarity between his investment style and that of many SI biofreaks was sort of illusory. However, I still think that it is very wise to follow him, if only to get a clue of how stable his fund is. Some will remember the chilling effects of a forced sector bail by Amerindo, and I know that I'm not the only person that thinks that NPSP and TTP stick out like sore thumbs. That is great, Jason. Thanks.

To: JFitnich who wrote (1118)	12/13/1999 2:18:00 AM
From: Dave K	Read Replies (1) \| Respond to of 4974

Burning question is why does the L.P. hold 900K of KDUS having added (around 40-50c in June) just prior to the company being reduced to what is now essentially a shell run by one very expensive CEO. Looks like a stupid move....or is it ?

To: JFitnich who wrote (1118)	12/13/1999 9:20:00 AM
From: Biomaven	Respond to of 4974

Thanks, JF. This is very useful, and frustratingly difficult to put together. A couple of comments: 1. If anybody is feeling energetic, it would be nice to get a feel for how this portfolio did over the last quarter. You'd obviously need to make some guesses at prices for the stocks where his position changed. We don't know what the setup of his fund is, but it would be nice to have a feel for whether he is facing redemptions or not. 2. Once he starts reducing a position, he often seems to go all the way. Similarly, he doesn't typically hold very small positions, so a small start might mean he is accumulating a larger position. He typically trades in frequent small amounts - it's not a "buy 100,000 of biotech X tomorrow" type thing at all. Thus you can front run him to some extent if you figure out what he's doing. 3. No idea why he dumped NPSP - he doesn't seem to like mergers much, or maybe he just got frustrated by the slow progress. In TTP he could just be taking some profits and so is more understandable. Peter