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Biotech / Medical : Biotech HOLDRs (AMEX: BBH) -- Ignore unavailable to you. Want to Upgrade?


To: Robert Rose who wrote (44)3/28/2000 9:23:00 AM
From: Curtis E. Bemis  Read Replies (1) | Respond to of 98
 
BBH tracks its constituent holdings quite well and the volume of its constituents far exceeds the volume or number
of trades of BBH. So, it appears the constituents drive BBH
and not the other way round.

*IF* BBH is truely representative of the biotech sector, and
there are a couple of omissions, then it is a proxy for the
sector. The restrictions on BBH like no one holding to exceed 20%, no splits of BBH itself and a few others would
seem to be a limitation. Good luck-- (I like BBH)



To: Robert Rose who wrote (44)3/28/2000 11:03:00 AM
From: OX  Respond to of 98
 
>>...if the bbh's price can reflect investor demand for the bbh itself...

no tracking stock can venture very far from it's 'fair value' due to the arbitrage opportunity that can be captured