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

To: bob zagorin who wrote (23221)	7/14/1998 11:04:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

bob, I suspect that the "me toos" will continue for quite some time, but LGND uses a "targeted approach", while many combinatorial chemistry approaches are much more random.

To: bob zagorin who wrote (23221)	7/14/1998 11:32:00 PM
From: Proton	Respond to of 32384

Re: Patience Index Update The "Patience-is-Its-Own-Reward" Index measures the relative performance of LGND against the SPX since the inception of this thread. Walter presented an intriguing case for considering alternative benchmarks, but I will retain the S&P 500 as basis of choice. Walter also made a point on which I'd like to comment. He reminded me that it is all too easy to perceive our mistakes in hindsight. He is, of course, correct. However, it is important to remember that long-term investing is not, per se, successful investing. The only basis on which I can discuss this matter is to look at the numbers. Indeed, once LGND turns around (or -- contrary to history -- holds its ground as the SPX deteriorates), a very different message will emerge: even a premature investment in LGND was successful. Patience Index: -86.48%. Pý