Thursday, March 19, 2015

Are biotechs in a bubble?

Q: Do you think biotechs are in bubble? 

A: Biotechs may be undergoing a "melt-up" but I don't think they're in a bubble yet.  We'll know they're in a bubble when everyone -- including friends, relatives and neighbors -- is talking about them and buying them with reckless abandon.  I definitely don't get that vibe right now.  A lot of the biotech ownership is among professional investors, not small retail traders.