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

To: Biomaven who wrote (5099)	12/11/2001 2:36:07 PM
From: BulbaMan	Read Replies (3) \| Respond to of 52153

Peter: As I ranted to Rick (when I was privileged to meet him in the flesh), IMHO there are no "smart" shorts. A very condensed version of my rant goes like this. If you're skilled at picking stocks, you should be just as good at picking longs as shorts. So, given that going long has a humongous risk-reward advantage over going short, it makes no sense to ever go short. I think this is true even in the worst market environments, since one never knows when the market will turn for the better – or how high wild bull markets will soar. And I'm sure you've heard it pointed out that the billionaire investors made their money going long and there are no billionaire shorts. Having said the above, I do believe (as does the article author) that it's important to watch the machinations of the shorts. If nothing else, given their ability to publicize their short stories in the media and their expertise in bashing stocks on message boards, they certainly do influence the near-term movement of stocks.