Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Jacob Snyder who wrote (530)	5/21/2001 6:26:02 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 656

From the "know who you're talking to" category, you're declared one on a one to ten scale. Look, during any given period, I'm going to make 10X what you do. Therefore, if you're correct and I get caught in the wrong sector/stocks/whatever when crunch time comes, I'll only have 5X what you do. Sad, but I'll live with it. And, BTW, I didn't recommend IMNX to you.

To: Jacob Snyder who wrote (530)	5/21/2001 8:02:05 PM
From: Biomaven	Read Replies (1) \| Respond to of 656

IMNX is in the same catagory as NTAP or AMZN or JNPR: kinky gogo concept stocks. With a stock whose earnings are so far into the future, and so uncertain, you are gambling, not investing You may not have noticed, but IMNX earned over $150m last year, on sales of around $1 billion. Further, I have considerable confidence that the 2002/2003 earnings will be substantially higher. How do I know that? They have a product that patients are tearing down the door to get and that is currently supply limited. By late 2002 the supply problem will in all likelihood be solved. I also do not believe that any rival product will be approved in that time period (further out is a different matter) that will challenge Enbrel. That means barring some disaster (always possible in a drug company) solid earnings growth is locked in at least for the next three years. I don't believe any of the go-go stocks you referenced can make the same claim. I'm not saying the stock is a screaming bargain at these prices (although I'm holding for the present, hoping they will do some deal to increase the Enbrel supply in the nearer term). I will say it was a screaming bargain at under $11 where I bought. And no, I'm not "in love" with IMNX - in fact I suggested it was overpriced when it was around $38: Message 15167486 Peter

To: Jacob Snyder who wrote (530)	9/18/2001 11:26:12 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 656

Yes, I did learn something: I learned that investors fall in love with biotechs, the same way they fall in love with silicon-based tech stocks. IMNX is in the same catagory as NTAP or AMZN or JNPR: kinky gogo concept stocks. With a stock whose earnings are so far into the future, and so uncertain, you are gambling, not investing. Gamblers occasionally win a round. We are currently having a partial return to the bubble mentality of 1999, as evidenced by the fact that this market upturn is being led by the companies with the weakest fundamentals, and valuations are again becoming absurd. This upturn is entirely artificial, created by the Fed with massive liqudity injections, and 1/2% rate cuts every month. When the Fed's overcorrection causes inflation, all this is going to be given back. All of it. IMNX could go higher, it could even double or triple from today's levels. Since the stock price is not connected to sales or earnings or anything at all, other than the balance of fear and greed, it's impossible to know how high it'll go. But when this bear market rally is over, we'll see whose capital is still intact. Mine. But you were correct, it could double. Right on through that bear market of yours.