Biotech Values

[terry hallinan]

DewDiligence, Poorgraduatestudent - Somebody Up There;

>Imcl had a hell of a dip right before approval.<

So did ABGX right before the positive results from the Panitumumab “408” study on 11/3/05. FWIW

People will never disabuse themselves of the odd notion that Somebody Up There always knows something and is fixing things. I knew a guy that worked all the way up on the third floor and he didn't know any more than I did.

Certainly it is true that a Sam or Martha sometimes have unusually good ESP but very large active markets are hard to fix. Without knowing at all, I bet Joe Kennedy mostly rigged the market on small illiquid companies like today's naked shorting hedgies do. FDR made no bones about making Joe Kennedy first head of the SEC because nobody was better at fixing markets. Today only the blind, deaf and dumb need apply for the job.

Best, Terry