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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Pseudo Biologist who wrote (3957)	1/16/1998 7:40:00 PM
From: Andrew H	Respond to of 9719

Thanks, PB will check it out. I see it has more volatility over the year than the IXB, so it may indeed be more representative.

To: Pseudo Biologist who wrote (3957)	1/17/1998 12:49:00 PM
From: Biomaven	Respond to of 9719

PB and others: One important aspect of the BTK index is that there are options on it. I have on occasion in the past used it as a hedge against my own portfolio. One problem with it is that its small size (15 stocks) means it can easily move if one of its small constituents has a big move. Thus I don't think it's always a good proxy for the biotechs in general. The other problem with comparing your own portfolio with it is that (IMO) it's not a bad looking biotech portfolio in its own right. In fact that's how I regard it - as a rival portfolio rather than as an index. That's also why I no longer use it as a hedge. I wish there were options on some broader index, but I haven't found any yet. Peter