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

To: WTDEC who wrote (16157)	3/1/1998 5:22:00 PM
From: CYBERKEN	Read Replies (3) \| Respond to of 32384

Many investors in the technology fields buy the best science or technology available and just wait for the market to recognize it. Most people who invest that way have done extremely well over the last 10 to 20 years. I am unable to invest without putting as great a weight on the quality of management, and have abandoned stocks with great science when the mgt seemed to be faltering. Never underestimate the ability of a bad management team to destroy good prospects for any company. Ligand is one of those companies that you could invest in just for the pipeline and their chosen technologies. But since the Panretin trials they have proven to me what I suspected when I first bought in: That the management team is focused, talented, and able to bring their products through the FDA process in minimum time and with maximum effect. There are very few companies in biotech who have achieved this level of management competance (and I'm looking to invest in all of them). This will make a big difference as biotech goes forward, as perhaps the majority of current companies will fall out. Ligand is purely and simply a long-term buy-and-hold, with the next tier coming soon.

To: WTDEC who wrote (16157)	3/2/1998 1:13:00 AM
From: Torben Noerup Nielsen	Read Replies (1) \| Respond to of 32384

wtd, I think we agree; I did oversimplify things greatly. The point is that by forming opinions/expectations that are different from those held by the majority of people, you are taking a risk and betting that you are right and they are wrong. Cheers, Torben P.S. A small request to those of you whose account names are not your first or last name..... Would you mind signing at least your first name? Feels funny to respond to acronyms. No flames about privacy; it is just a request and if it offends anyone, they should just ignore it.