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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: Proton who wrote (13429)	1/17/1998 2:07:00 PM
From: David K.	Read Replies (1) \| Respond to of 32384

Henry, recent posts regarding the H & Q conference suggest that there was new data supporting the efficacy of lgnd's lead drugs for cancer (i.e. breast cancer). However, when I called IR for details, they said no new data was revealed at the conference. How do you explain the discrepancy?

To: Proton who wrote (13429)	1/17/1998 11:04:00 PM
From: Andrew H	Read Replies (1) \| Respond to of 32384

>>The best "buy-and-hold" strategy may be to plot the three fair value projections given by Bear Stearns ($18 now, $25 on 12/31/1998, and $62 on 12/31/2002), fit a curve to the three points, and sell at any time the price penetrates the "fair value" curve (I have better ideas, to capture possible overvaluation caused by a population explosion at Lake Ligand, but I'll save those for another day).<< Peter, yours is an interesting perspective on LGND and the above statement may have some value. Would be interested in hearing you expand on your "better idea."

To: Proton who wrote (13429)	1/18/1998 1:02:00 AM
From: Vector1	Read Replies (1) \| Respond to of 32384

Peter, I don't know why I can't help myself from staying in this debate on fundementals/technicals. However if you are going look at IRRs for individual investors I think you have to analyze tax adjusted returns. A 5 year hold will only be taxed at the maximum rate of 18% federal. The problem with short term gains that look like fabulous IRRs is that you have to find something else more attractive to invest the proceeds in and then share half the rewards with the Tax Man. Vector Ligand, 1