Pfizer (PFE) today is what the oil majors were at peak ESG outrage: unfashionable, misunderstood, and throwing off more cash than the market wants to admit. The stock is still wearing its COVID windfall like a scarlet letter. Investors can’t forgive management for mistiming the boom and fumbling the money, so they’re pricing Pfizer as […]
Category Archives: Biotech Letter
Mad Hedge Biotech and Healthcare Letter December 4, 2025 Fiat Lux Featured Trade: (THIS BIOPHARMA IS CLEARED FOR A LONG-TERM CLIMB) (UNH)
UnitedHealth (UNH) is like a Boeing 747 in a thunderstorm: big, complicated, a little bumpy right now but still very much airborne, with the engines humming stronger than most investors realize. The recent clobbering of UNH shares has more to do with short-term panic than long-term fundamentals. If you’re in this game for quick thrills, […]
Mad Hedge Biotech and Healthcare Letter December 2, 2025 Fiat Lux Featured Trade: (OBITUARY WRITERS SHOULD CHECK THE EARNINGS CALL) (ABBV)
A few weeks ago, I was having lunch in Palo Alto with an old FDA contact who’s now retired. Over grilled swordfish, he said, “The smartest companies make moves three years before they actually have to.” That stuck with me. Because if you want to understand why AbbVie is one of the best-positioned names in […]
Mad Hedge Biotech and Healthcare Letter November 25, 2025 Fiat Lux Featured Trade: (THE COMEBACK CAT WITH MORE THAN NINE LIVES) (PFE), (NVO), (BMY), (JNJ)
The market has the memory of a goldfish and the gratitude of a cat. Pfizer (PFE) saved the world, then watched its stock get tossed out like last week’s leftovers. But the story isn’t over. Not when the company is quietly stitching together a pipeline, beating estimates the analysts didn’t think it could beat, and […]
Mad Hedge Biotech and Healthcare Letter November 20, 2025 Fiat Lux Featured Trade: (ACCUMULATION YOU CAN TASTE) (MRK)
Remember that scene in The Big Short where everyone thinks Michael Burry’s lost his mind betting against housing? That’s exactly how I felt last week at a biotech conference in Boston when I suggested Merck (MRK) might be the most mispriced asset in big pharma. The room went dead quiet. One PM actually choked on […]
Mad Hedge Biotech and Healthcare Letter November 18, 2025 Fiat Lux Featured Trade: (SHUNNED BY SENTIMENT, SUPPORTED BY SCIENCE) (AMGN)