- In a little over a year, the market has gone from sell "old economy", companies that make something and earn money, to sell companies that don’t make things and earn money.
- We are now at the stage where nobody cares. don’t buy anything, whether it makes makes "things" or money. Irrational pessimism on the tech/innovator sector has morphed into a panic where everything is being sold. Yet, the economic statistics remain vibrant.
- The risk-off market has played havoc with the biotechs, where the fundamentals have not changed as much as the valuation. I provide a few interesting names. larger-cap and babies being thrown out with the bath water.
For further details see:
Should Biotech Be On The Critical List?