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

To: Miljenko Zuanic who wrote (668)	2/20/2000 3:11:00 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 52153

Pipeline.com? Guffaw. You're just jealous that I staked out neuro first. Notice celeryroot trying to blame poor biowa? >> If I can build basic knowledge about what is going on in bio-science and how this can effect pharmaceutical industry in future than anyone can do it. << Crock alert! Crock alert! >> So, when (and if) correction for high-fly stocks which rallied the most come we will have again buying opportunity. However, mu guess is that we may first experience money re-balancing inside sector. Some sub-sector bios are still cheap on relative and maybe absolute base. << I think it's wise to place money in both this camp and in the "correction" camp, to keep some dry powder. That's my own view of the moment. It's led to the need to be fast on feet to stay even with you momo guys. <g> Rick.neuro

To: Miljenko Zuanic who wrote (668)	2/20/2000 3:14:00 PM
From: John Metcalf	Read Replies (1) \| Respond to of 52153

Miljenko expressed my point very clearly: relative biotech valuations are rising off a depressed base. I think Rick is making the same point -- that 1992 represented an inflated base. Mid-nineties undervaluation started as a normal correction (triggered by the national healthcare debacle) which followed a period of hopes and wishes valuations. Like Rick, I expect some correction in hot stocks and areas. Demonic Genomics, for example, are hot as Hell. There is the possibility that money will find a new area, and there will be subsector rotation, as happened in internets and telecommunications. For example, product companies (e.g., Biochem Pharma) could be discovered. All it would take is one large, high-visibility acquisition at a premium, and everyone would be screening bios with products, as Peter Suzman has been doing on the Munch thread.