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

To: Ian@SI who wrote (6895)	8/13/2002 12:37:50 PM
From: Ian@SI	Read Replies (1) \| Respond to of 52153

OT [humour???] From the laughter thread... If you live long enough, what was supposed to kill you will be proclaimed the latest health fad. Unfortunately, you will likely die from an earlier health craze. In a swamp, it ain't the alligators you have to worry about so much as it is the mosquitoes. If you don't try to get better, you are almost guaranteed to get worse.

To: Ian@SI who wrote (6895)	8/14/2002 3:31:00 AM
From: Londo	Respond to of 52153

(OT, macroeconomics) With capacity utilization near a multi-decade low at about 76%, the odds of inflation are substantially reduced. Any company attempting to raise prices will simply lose market share. I completely agree with you here, which is why the inflationary growth scenario seems to be further and further remote, especially with the 30-year bond yielding under 5% right now. Anyway, it's rather ironic to think that cash-rich biotech stocks without debt and excessive burn rates might stand to 'gain' with a deflationary environment.. but anyway, all asset prices will get dumped in deflation, the markets are not going to be pretty. DJIA 5000 anybody? Peter, if I didn't say it before, that was an excellent paper you posted.

To: Ian@SI who wrote (6895)	8/14/2002 4:52:38 AM
From: LLCF	Read Replies (1) \| Respond to of 52153

<With capacity utilization near a multi-decade low at about 76%, the odds of inflation are substantially reduced. Any company attempting to raise prices will simply lose market share.> Ian, In a global economy 'prices' are not necessarily dictated only by our stucture. Any imported sectors could see prices up simply due to a fall in the $US. The US has been running current account deficits approaching 2 Billion a day, financed by foreigners. Every % fall in the dollar is a reduction [increase] in their returns [losses].. and remember that's the needed FUNDING just to keep the $US stable... let alone the possibility of a reversal! Meanwhile the Fed has been growing money supply like nuts. The only question is how fast the dollar will fall, how far, and what will be the ultimate ramifications IMO. It is more than simply possible that prices & rates could GO UP regardless of what the fed does while the markets continue going down with the economy. Foreigners own Trillions in bonds and stocks. DAK