Category Archives: Biotech Letter

The Pharma Flea Market

You know what reminds me of those garage sales where some young couple sells their grandmother’s antique furniture for $20 because they think it’s old junk? That’s exactly what’s happening with Bristol-Myers Squibb (BMY) right now, and frankly, it’s driving me nuts watching all this perfectly good money get tossed aside. I was having lunch […]

Shear Genius

My barber Charlie has this uncanny ability to diagnose which of his clients are making money in the market just by watching how they tip. Last Thursday, while he was working his magic on what’s left of my hairline, he mentioned how his pharmaceutical rep clients have been tipping like oil sheiks lately. “Something big […]

The 3% Difference That Doesn’t Matter

My dentist called last week to reschedule my cleaning. “Supply chain issues with the numbing gel,” he said apologetically. Funny how even the medical profession struggles with simple logistics these days. This got me thinking about how the simplest innovations often create the biggest disruptions, and how I’ve been around long enough to recognize them […]

A Perfectly Executed Fianchetto

I was 12 years old, sitting across from this grizzled chess master in Washington Square Park – one of those guys who could probably beat you blindfolded while eating a hot dog. He demolished my carefully planned opening in about six moves. While I was proudly moving my knight to what I thought was a […]

Enjoying This Healthcare Giant’s Terrible, Horrible, No Good, Very Bad Year

Listen, I’ve been around this market long enough to remember when healthcare stocks were boring dividend plays that our parents owned for the steady income. Well, times have changed, and so has UnitedHealthcare (UNH), but sometimes the old investing wisdom still applies: buy when there’s blood in the streets, especially when it’s someone else’s blood. […]