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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Rocketman who wrote (6291)	1/15/1999 9:15:00 PM
From: Biomaven	Read Replies (1) \| Respond to of 9719

Rman, Well AIMM is trading at around cash, and they comfortably have enough to finish their big Phase III RA trial. So having satisfied the bean-counter requirements, the only remaining question is whether their stuff is going to work or not. <G> I met their head honcho socially several years ago (before their trial went bust) and he pretty much convinced me that they were dealing with a real phenomenon. My hunch is that at best it'll end up working only for some subset of their subjects though, and this won't be enough either to satisfy the FDA or for the company to live long and prosper. I haven't looked at it for a few years though, so I'm not real up to date on what they've been doing. Peter

To: Rocketman who wrote (6291)	1/16/1999 2:38:00 AM
From: Vector1	Read Replies (3) \| Respond to of 9719

Threaders, Rman and I have been engaged in a fierce debate about AIMM. I think everyone knows which side of the debate I am on. Reasonable minds can differ and I respect Rmans view. I don't know whether we will add it to the model or not. However, the quality of the discussion on the thread was so good I feel lucky to be a part of it. One of my basic tenents in biotech investing is to buy companies that have first rate science and capable managers with high integrity. Beyond that I look for an inefficient valuation and a highly leveragable business plan. Sounds easy in principal but hard in practice. How do you judge a managements competence and integrity from reading SEC filings and annual reports. I try and look for a track record of doing what they say and try and glean information from reputations and first hand dealings. Reputations are usually built for a reason. V1