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

To: Biomaven who wrote (4421)	8/8/2001 1:29:57 AM
From: tuck	Read Replies (1) \| Respond to of 52153

Tuck's rant of the day, kinda on topic . . . from my own post on Trickle re QGENF: >>Analysts getting more realistic? R.W. Baird's Larry Nabor upgrades the stock to strong buy and lowers the price target to $31 based on a more reasonable P/E multiple.<< Contrast today's treatment of QGENF with that of PRGX. Progenix today was downgraded by Scott Stromatt of CE Unterburg Tobin to buy from strong buy, but he raised the target. HuH? I rephrase my opening question: Are analysts looking more realistic or looking more silly in "correcting" their unrealities of the past? At least a few of them can ask intelligent questions about tool companies . . . One wonders why the rest get paid. Cheers, Tuck

To: Biomaven who wrote (4421)	8/8/2001 9:11:53 AM
From: jayhawk969	Read Replies (1) \| Respond to of 52153

Peter, You have obviously juggled your portfolio. You have mentioned in the past that MLNM did not look as good to you as it once did. What additional comments can you make about MLNM. J.D.

To: Biomaven who wrote (4421)	8/8/2001 5:09:41 PM
From: Biomaven	Respond to of 52153

BTW, I should add when discussing my biggest holdings that the (absolute) value of my short positions in BBH, QQQ and TTH would also put these among my "largest" holdings. I only wish I had maintained the dollar value of my shorts as the underlying indices went down. What started out as a hefty (for me) QQQ short is now looking skimpy compared to the rest of my portfolio as the Q's have continued downward. In retrospect I should have hedged more aggressively, but then retrospect is always amazingly easy. Today wasn't pretty in the overall market, and the biotechs were no better. The only bright spot has been that long interest rates came down quite a bit this afternoon. Something that is going to continue is outflows out of short-term money market funds. When people look at the pitiful interest rate they are getting they will doubtless be tempted by some longer-term investments. Personally, I'm looking at some REITs and some European bond funds. Peter