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Biotech / Medical : T/FIF Portfolio -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (492)	1/29/1999 8:28:00 PM
From: Larry Liebman	Respond to of 1073

Congratulations to SCIO. I don't hold any SCIO, but view their success as still another reason to believe biotech has arrived. I find it incomprehensible how some people will not let go of their memory of biotechs circa '92-'94- no products, no profits, some trials. The street may be ready to rediscover this sector.

To: scaram(o)uche who wrote (492)	1/30/1999 1:20:00 AM
From: scaram(o)uche	Read Replies (3) \| Respond to of 1073

Yet another week of same old, same old....... Franklin Class A: BioDisA 26.52 27.28 17.68 +4.7% Franklin Class A: GlHlthA 17.10 19.64 12.86 +2.2% AMEX Biotechnology Index. 196.47 +6.2% Dow Jones 30 Industrials. 9,358.83 +2.6% Nasdaq Biotech Index..... 482.03 +7.5% von Emster was popping off again this week in a Reuter's article, and, once again, he underperforms the averages (and, again, underperforms Fidelity Select Biotechnology at +6.2%). Popping off about small caps again. A reminder.... the other participants in the H&Q luncheon panel quietly delivered the message..... if you want V.C.-like returns, you need to buy the companies when nobody else wants them. Again, I challenge Franklin Templeton's management.... a biotech proponent, not some guy making excuses for his own poor performance, should be managing your fund(s). Your underperformance is embarrassing, and it's damaging the biotech sector.