Biotech Values

[biomaven0]

Here's a discussion of "spring-loading" in the context of Tyco:

http://money.cnn.com/magazines/fortune/fortune_archive/2002/04/01/320643/index.htm

I never invest in roll-ups - just too many ways they can distort their earnings. And to the extent their distortions are timing-related, they may need to do bigger and bigger acquisitions to keep things looking pretty.

Peter