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To: trustmanic who wrote (4674)	11/5/2002 1:10:54 AM
From: Cogito Ergo Sum	Read Replies (3) \| Respond to of 11633

Hi George, Yep dipping some toes in tech when Lorne called it was certainly fortuitous BUT I expect we'll get another chance ;o) regards Kastel

To: trustmanic who wrote (4674)	12/14/2002 7:06:48 PM
From: Seeker of Truth	Read Replies (1) \| Respond to of 11633

A word about biotech, George. Much research in the pharmaceutical area has a low expected pay off. And yet, it is necessary to look in every corner for new ideas, new phenomena, new drug leads. So how does the pharmaceutical industry cope with this? A no no is for the big drug companies to do this high risk research themselves. Instead they let a myriad of small companies do it. If and only if the results look promising then the big companies will toss them some money to continue the investigation. They certainly don't want to get in at the early stages since most of these companies won't find anything profitable and will go belly up or sell for a few cents a share. So where do the small research outfits get the money for their infancy? From small investors with big dreams. The startup company has 1 or 2 geniuses on staff with exciting ideas that usually start with "IF it's true that ...." then there are possible cures for X and Y. However we need cash to find out whether or not "it" is true. It's much like the dot com bubble except the investors in the biotech area are much more emotional about the product, i.e. cures, health. Some of them are partly investing out of altruistic motives. That's unfortunate; their noble feelings should be used outside of investment. My moral, George, is STAY AWAY FROM BIOTECH. JMHO.