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To: Coolwire who wrote (4012)	3/5/2000 12:44:00 PM
From: Ian@SI	Read Replies (1) \| Respond to of 5867

OT to Jarrett re Biotechs, I don't know HQH. Your description makes it sound attractive for one who doesn't yet have sufficient insights into the sector to select specific companies. Yes, I believe there will be many years of huge returns by those companies making real breakthroughs. ...as opposed to those companies that talk about making real breakthroughs. Before attempting to select specific companies, I believe that one either needs some specific detailed knowledge of a medical problem requiring a solution; which companies are working on that specific problem; what the current status of their research is; what alternative treatments are available; what the size of the market is; how the research / clinical trials are being funded (having one of the major drug companies do it is very nice); and what the biotechs burn rate is. Without a detailed understanding of the above at least, the investment is really just gambling and the odds of a payoff are not high. But if you have the insights or good access to someone who does, immense wealth is being created. Much more so than in the semi equipment sector. In just the last 2 months, I have unrealized capital gains which exceed my Pretax Gross Earnings for my entire working career. Most of that came from the biotech sector. FWIW, Ian.