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Author: foolishpremise Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 160  
Subject: Battle Hardened Biotech Investor Date: 11/11/1999 1:36 AM
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Greetings all

I thought I might pass on a little bit of my past experience with biotech investing.

As a medical student I was fortunate enough to be learning about erythropoitin at the same time as I heard a company (Amgen) was in clinical trials with the same product. I scraped together the few spare dollars I had and bought some shares.

Although I didn't then understand the virtue of buy and hold, the significant gains I made early on left me with a taste for biotech investing.

That was ten years ago and I have spent most of those years holding various biotech stocks. They are hot again right now but the reality is that there is a LOOOOONG wait for potential products to reach the market and a substantial number of failing companies along the way (my bursting balloons were Synergen and Cambridge Neuroscience).

I suggest you stick to biotechs that already have a marketable product so that there is more security and more potential for stock apreciation during the long wait for product approval.

I do have a big position in AMGN but mostly because 75% of capital gains are taxable in Canada so it would be foolish for me to sell. I still like the stock after all. Although I would sooner see a big portion of it sitting in JNJ.

Demographics tells us that the baby boomers are going to begin investing heavily in the stock market over the next 15 years as they make up lost time saving for retirement. It's a great time to be in the market.

Demographics also suggests we target companies which cater to the needs of 50 year olds. Unfortunately this will mean increased utilization of lab tests, pharmaceuticals, coronary stents ... you can grow the list yourselves.

You often hear "buy what you know" and over the next couple decades physicians who follow this advice should do very well.

It seems to me the best use for this message board would be for physicians with different specialties to suggest products that they feel are superior to their competitors and why. After that we can take it from there and look into the companies financials and other products on our own.

Ciao,

F.P.






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