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

To: jeffbas who wrote (733)	2/29/2000 10:22:00 PM
From: Miljenko Zuanic	Respond to of 52153

Message 13008923

To: jeffbas who wrote (733)	2/29/2000 10:30:00 PM
From: A.J. Mullen	Read Replies (2) \| Respond to of 52153

Jeffery, I'm in the same position with a number of other stocks. I bought the story, but I have no clue how to value them. I expect a correction at some stage, so I'm selling fractions of my holdings. By doing so I am easily able to build my cash to the total value of my portfolio 15 months ago. If there's a horrible sell-off, I'll be in a good position. If stocks continue to climb, I shall not lose out on too much. AJ

To: jeffbas who wrote (733)	3/1/2000 2:36:00 AM
From: sim1	Read Replies (1) \| Respond to of 52153

Jeffrey, While I took Rick's question to be rhetorical, I couldn't resist doing the arithmetic anyway. Big number. Message 12691644 Also clueless, Stuart

To: jeffbas who wrote (733)	3/1/2000 9:37:00 PM
From: Biomaven	Read Replies (1) \| Respond to of 52153

jeffrey, Right now we are in a frenzy. As I've been saying for a few months now, one has to let go (at least to some extent) of attempts at objective valuation and for now go with the stocks with appealing news flow. Obviously this is uncomfortable for a "value" oriented investor. However the "value" investors in internet land are now all dead and buried in only their shorts. Seems like biotech is now following firmly in the internet pathway. At some point reality will return - nobody knows when. Until then, you have to look at a stock like GZMO as a probabilistic function of news flow. Is there any news likely in the next months that could cause its (relative) price to halve from here? I don't think so. To double or triple? Not very likely, but certainly possible on a number of fronts. (Think of some luscious SAGE news or ATIII news). On this basis, GZMO is still cheap. <g> (The above is only very slightly tongue-in-cheek). Peter