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

To: jeffbas who wrote (817)	4/20/1999 2:39:00 PM
From: LLCF	Read Replies (1) \| Respond to of 1073

<It is part of the job of managing money to recognize what the market will pay for and what it won't.. > Yes, of course his job is to make money! <I agree with him. I have been in small cap stocks for years and I do not regard it as a valid excuse that they were better investments for the money> BUT THATS WATER UNDER THE BRIDGE! THE POINT IS WHAT WILL HAPPEN IN THE FUTURE! We will see if those fleeing to the puffy, bloated big caps are right or not. Thats the whole game... <But eventually the tide will turn.> Well, jeez, O.K. whats up, is that a hedge or what? I for one am not afraid to say I'm buying these small biotechs and from experience I can tell you I am DELIGHTED that the big healthcare clowns have been selling because I can't wait till they're done. I came to the sector 6 months ago BECAUSE everyone's bailing. Most of those hanging around including myself are certainly outperforming the guys in the article HANDS DOWN... so hey: I'm going with what works! DAK

To: jeffbas who wrote (817)	4/20/1999 2:51:00 PM
From: scaram(o)uche	Respond to of 1073

Jeffrey: Most of us have long admired the "Harold Engstrom" approach to successful biotech investment over the past eighteen months..... "invest in BGEN". We (some of us) knock guys who blame the sector for their performance, when, in fact, enlightened investors have done well. It doesn't help to have the manager that runs biotech's only pure fund dumping on the sector when he could merely say "I picked the wrong stocks, and chose to short good ones. I'll try to do better". Fund managers have hurt the sector, IMO, by having their poor performance out there as a reflector. They've further hurt the illiquid stocks by abandoning them, making excuses as they run. That said, let's stop knocking them and see if their new strategies beat some of those proposed here. You've made it clear in another thread that you prefer companies with profits. That strategy was clearly the winning one since 10/97. Moritorium! Rick