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Biotech / Medical : Agouron Pharmaceuticals (AGPH) -- Ignore unavailable to you. Want to Upgrade?

To: per strandberg who wrote (3274)	12/10/1997 5:04:00 PM
From: Izzy	Respond to of 6136

My pure conjecture: JC Cramer is the PR man for VRTX; Johnson et al have bought a position in VRTX (really sick thought); investors have been reading the SI AGPH and VRTX threads, and; who knows? Makes no sense, whatsoever. Where is everybody else today?

To: per strandberg who wrote (3274)	12/10/1997 5:10:00 PM
From: Andreas Helke	Read Replies (2) \| Respond to of 6136

I have the impression that there is almost no connection between market caps and the true value of a biotech company. If I think that the market cap of a company is too high I'll stay away. If it looks like it is too low and I don't find a good reason for the low valuation I start buying. This way I ended up with big positions in Ligand and Agouron. If my analysis is correct then in a few years I'll end up with big gains. If it turns out to be flawed then I should probably move most of my money into index funds. In the last two years index funds have outperformed my portfolio. But I am still optimistic that I will outperform the indices in the next few years. I think my portfolio has a chance to go up 15 to 30% a year when the general market just follows earnings growth of 5 to 15%. But if we get a bear market I won't have much luck with my current stocks. Andreas