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

To: Robert Rose who wrote (3127)	3/18/2001 4:50:39 PM
From: scaram(o)uche	Respond to of 52153

Robert: >> richard, so are you saying the bios are not outperforming during this horrendous bear market? this is a serious question. << Yeah, I realize you're sincere. Yes, that's exactly what I'm saying. Pick your "rising star" biotech. HGSI? Off 61% from it's two year high. INMX? Off 74%. The concept that biotech has outperformed is BULL, spread by those that grab the ear of CNBC and (if they don't have a more active role in deception) Barron's. Pharmaceuticals outperformed, and it's thus natural that ^BTK -- largely composed of operational companies -- also outperformed. Drugs have been a relative safe haven -- as always when the consumer retreats -- until the past couple of weeks. However, ^BTK is not, in the wildest of dreams, representative of the average biotech. Ron Insana drives me nuts with his continuous, droning references to "biotech". Mid- and small-cap biotechs have been continuously manipulated like this. Those who spread this crap know damn well that they're engaging in deception. They can't evaluate the value of any given research program, so they figure that fear mongering will scare their intellectual brethren. Your BBH? Heavily weighted in AMGN, BGEN, CHIR, DNA, etc. Those are operational companies, more representative of pharmas than 95% of biotechs. The average "biotech" has been ripped. Grrrrrrrr............. Take a look at NBIX, and try to imagine what it will be if it fires on all cylinders. What sort of premium over cash/share do you pay for that sort of potential? Well-meaning and informed contributors to this thread can name ten more with the same sort of leverage.