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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Sunshine who wrote (17185)	6/10/2003 10:52:05 PM
From: Steve168	Respond to of 78507

Steve, I agree with you that VICL's rise is in tandem with the biotech sector as a whole. But my other finding is most under-cash no-debt stocks 1 month ago are in biotech sector. In that sense, there is a reason for the whole sector to rise, because it is THE most undervalued sector on a discount to cash basis 2-3 month ago. Before that it was telecom sector. I have been rotating my money in/out of those sectors and so far so good. Growth is very hard to predict. When a sector is anticipating big growth, money will flow in and the competition will heat up, erode the pricing power. That was what happened in telecom industry before crash. I gave up on those "forcasted growth", rather I buy stocks under cash with no debt, holding some technology/product that may be hot again in the future, such as PHTN in 98, SINA a year ago, ALVR 3-6 months ago. They were all under cash value when I bought.