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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: baggo who wrote (32140)	9/3/1998 9:59:00 AM
From: Knighty Tin	Respond to of 132070

Bruce, I do not like zeroes here. Bond interest rates are at a 20 year low and I am a contrarian. I wouldn't go beyond 2 years in an unhedged position. I think everyone on these threads believes in technology. We believed in it in the 1960s and we were absolutely right to do so. And 70% of the tech cos went belly up and we had a huge recession/market crash. I buy technology stocks every time they are fairly valued. The sad thing in, those with any promise are grotequely overpriced. I still own some I consider cheap, but I am beginning to question whether they have any promise. <G> We are dealing with a highly competitive area where obsolescence is guaranteed. If you haven't read it, check out my article, "Tech-toch, Tech-Toch" from a few months back, on The Internet Financial Connection. You can click on IFC from the home page and then just check the archives. Liking technology and buying anything at any price that has tech in its name are two different stories. We are currently in the latter situation. Cancer is a huge goal, though there are others in biotech. The stocks I like with good cancer therapy pipelines include Medarex, Ligand, Cell Genysis, and Chiron. I also like Incyte for the gene mapping. As you said, we have made more progress in diagnosis than treatment. "You felt like you were dying and now we know you are," doesn't turn me on that much, either. But I think that is a necessary first step. Diagnostic techniques give clues to causation which give clues to treatment. It seems awfully slow, but I believe that there will be cures for most cancers within a decade. And that I will make a lot of money on the stocks in the forefront. Y2K is a double whammy. First, as an added expense, it hurts the bottom line. Second, it will cut into IT budgets, which means tech cos. get whacked twice. It is not the end of the world, but it is also not the background for reasonable overvaluation of tech stocks. MB