Biotech Values

[DewDiligence]

>what have you been buying recently?<

In my own biotech portfolio, I haven’t made any major changes since selling approximately 1/3 of the IDIX holding over the summer (#msg-31751300).

I’ve put some free cash to work in muni bonds and muni funds, which are IMO at unsustainable bargain prices relative to Treasuries, barring an all-out collapse of state and local governments.

The private foundation I advise had a lot of free cash (kept to exploit markets like this), and it just increased its holdings in several positions. Drug/biotech names in which it added or started positions include HQH, ABT, BMY, GILD, and MNTA. (Full positions of NVS and TEVA were already in the portfolio.) Other new or increased holdings include BA, BAC, BHP, CAT, COP, DE, EMR, GE, and JPM, and SE.

Regards, Dew