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

To: scaram(o)uche who wrote (33296)	1/1/2010 2:30:49 PM
From: Biomaven	Read Replies (1) \| Respond to of 52153

the concept was seductive as hell Well I drank the Kool-Aid myself at the time, so I'm certainly not trying to decade-later-quarterback here. But it is always informative to try to go back and understand what this community did right and wrong in retrospect. Even though I "knew" we were in a bubble, I recall whining when it first popped on what I considered at the time to be a "stupid" reaction to some off-hand comment made by Tony Blair. I just didn't get it that if stocks were appreciating irrationally on superficially good news, I shouldn't be at all surprised if they also came back down irrationally on superficially bad news. And if I look back at the post-bubble period of this last decade, I think my biggest overall error was in mostly rejecting stocks such as DNA, GILD and CELG as too big and expensive. I did hold them for periods, but somehow they were often first to go when I was looking to cut back my overall exposure to the sector. So in general I was too patient with some of the small-caps and too impatient with the big caps. Peter