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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (8703)	3/22/2001 10:06:22 AM
From: scaram(o)uche	Read Replies (1) \| Respond to of 9719

It's obvious. The best method to acquire wealth is to wait for those who are ignorant about biotech to make crucial errors. Vulture investing. I've used it for about 5% of my portfolio. I'm now going to abandon long-term investing in the sector -- not because I don't believe in the companies, but because most sector investment bankers and fund managers are incompetent. In the BVF thread, we often point at the huge divergence between valuation, during the mania periods, top-tier stocks versus small caps. The funds continue to pile into the over-valued issues. When the crash comes, the sector comes down as a whole. This creates enormous opportunity. The opportunity is only outweighed by the hurt.