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Biotech / Medical : 2001* The One for Boom or Doom! -- Ignore unavailable to you. Want to Upgrade?

To: opalapril who wrote (142)	2/27/2001 5:28:19 PM
From: Torben Noerup Nielsen	Respond to of 146

Opal, I do not really think that a rate cut will make that much of a difference now. Not for biotechs anyway. If someone really wanted to boost the market, I think the best approach would be a significant capital gains tax cut. That should cause lift-off. Failing that, think of it as a Spring Sale and take advantage of the bargains out there. There are lots of them. My guess is that in a few years, the prices you see on many issues now will look ludicrously low. If you look carefully, there are a number of issues that seem to have found a bottom. Whenever the price dips, big buyers suddenly show. I suspect that many individual investors are being slaughtered while the institutional ones are stocking the vaults. A rate cut might push some of the money from the side lines into equities. But I just do not see the urgency. Take a look at the VD portfolio. It's way down for the year. Do you really think that's a permanent situation? I for one do not. Torben