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

To: Jacob Snyder who wrote (516)	3/28/2001 12:17:55 AM
From: scaram(o)uche	Read Replies (2) \| Respond to of 656

You've made your point..... for you, biotech is a lotto. You can't tell one biotech from another, and you can't tell good science from bad. No biggie..... that just means that you're like most investors. But, do you by any chance work for Arnhold Barfholder or Oscar Meyer??

To: Jacob Snyder who wrote (516)	3/28/2001 10:02:10 AM
From: seminole	Respond to of 656

<<< This model works only if you can predict what the future income stream will be, with a good degree of certainty. >>> This is not true. The uncertain in the future value or future cash stream in included in the model in the required rate of return used in the calculation. The required rate of return or discounting interest rate is larger with uncertainty, maybe even 40% for bios. <<< Like the kind of stocks Buffet would buy.>>> Why not say, like the kind of stocks Ben Graham would buy? Mr Buffet contribution to investing, for which is was rewarded with lots of money, is the extention of the value investing approach of Graham and Dodd. Buffet added the idea franchise as value to value investing. I look at biotech investing as value investing and as an extension of Graham and Dodd. What people on the boards of SI are contributing to value investing is the idea of R&D and patents as having value, IMO. <<< impossible to know >>> Difficult to know, not impossible. Why if you read a few journals you might even find a better way shrink tumors, LOL. Out of IMNX yesterday, I was on margin. good luck