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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: enervestor who wrote (526)	1/22/2000 3:54:00 PM
From: Doc Bones	Read Replies (1) \| Respond to of 52153

No doubt, some stocks and sectors have overshot value. But I think valuations now are a lot more rational than when I started investing in biotech in later 1998. Then, companies with several great drugs in the pipeline could be selling for less than book value. The mainstream press was running doom and gloom articles on the dire straights of the biotechs, their inability to obtain financing at any price. But the biotech backers at SI never gave up the faith. They pointed out the great projects and hidden values at many of these companies. They weren't just waving the pom-poms, but laying out cogent arguments at the PhD, MD, MBA level. No doubt their support helped keep interest alive in the sector, and aided some of those companies to take one more step forward, close one more financing, hire one more round. I sure thank this great group, and I'd like to add one thing more: whoopeeee! Doc