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To: BelowTheCrowd who wrote (1222)	12/24/1998 3:09:00 PM
From: dlc	Read Replies (1) \| Respond to of 1354

Michael, you are correct in your comments on biotech stocks. Actually I think 4-5 out of 10 failing may be optimistic. However, you missed my point. It is one thing to be wrong on a biotech if their drug doesn't work. There is no way to predict this. What I have a problem with is Murphy recommending stocks like Cytel and Genta who's cash position and business prospects are so dim that they will go out of business before their drugs are even tested. It is unconscionable for him to recommend stocks like this. Should I have paid more attention to their fundamentals? Yes. But then, isn't that why I am paying for the subscription? If Murphy were a lawyer he would be disbarred for giving this kind of advice.