Frank, say what you want, but my "balanced portfolio" is working just fine. TRQ, my mining stock, actually had a nice day. Seems the Mongolian government appears ready to grant approval for the next round of mine development. It increases the likelihood of RIO making a bid for the part of the mine it doesn't own.
I noticed your post ended with another political outburst. Funny, you assume certain things about people based on your own stereotypes. Oh well, like I said before, you are an interesting fellow when you can control your outbursts and stick to investing.
I believe the deal will keep TEVA from producing Celebrex until December. This would give Pfe another 6 months of exclusivity. That should save Pfe a considerable chunk of change.
PFE and TEVA just reached an agreement whereby TEVA can produce a generic version of Celebrex starting in Dec. PFE's original patent was set to expire in May, so this actually is a positive development for PFE as I believe the market had priced in generic competition starting next month. PFE is reportedly toying with the idea of spinning off its off patent drugs like Lipitor and Celebrex into a separate generic company. This would be an interesting development that could add value to shareholders. With so many drugs coming off patent, PFE might be able to make it work. I used to own MYL in the twenties. Now it has doubled and shows no sign of stopping. With healthcare cost getting out of control, generics are definitely only going to grow.
I made money with BMY and SGP a few years back. BMY bought one of the biotechs I owned, and they gave me shares. I sold them and made a nice chunk on the runup in utilities the last couple of years. BMY doubled during that time, so I would have done just as well or better just holding those shares. I like BMY, but I believe it is fairly priced right now. I also owned ALKS, but I sold too soon and missed the recent triple. I bought PFE in the mid twenties, and have enjoyed the dividend and the recent rise.
My largest holdings now are in the banking sector and in GE. GE has really been good to me, and I think its spinoff of its financial component should add some investor value later this year. They have a tremendous order backlog and they are in all the key industrial areas.
I played biotechs exclusively for many years, but now that I am older and financially secure, I have turned my attention to less speculative investments. I like OPK and CEMP because they have near term prospects, and I respect the companies and their management.
Now, Frank, I have enjoyed talking to you about stocks. You are a pretty interesting guy when you leave the politics and the name calling out.
Frank, doesn't the fact that Gale management dumped their shares while they were pumping their stock bother you a bit? I know the price is "cheap" but it keeps getting cheaper.
I like Pfe because I bought it a couple of years back at a much lower price. I own a sizeable chunk, so on paper I am up nicely when I factor in the price appreciation and the generous dividends. My cardiologist also told me he was very impressed with Eliquis, their new blood thinner. He believes it will prove to be the best and safest in class and is the only drug that can say it is better than warfarin. It is true that they are being hit with generic competition for drugs like Lipitor and Celebrex, but this has been largely priced in. Pfe has numerous promising drugs in late stage trials that have the potential to make up some of the money lost to generic competition. Pfe is loaded with cash after spinning off ZTS, so they are in a sweet spot for acquiring promising biotechs if they choose to. With the recent biotech bloodbath, they can probably make some attractive acquisitions at fire sale prices especially if the biotech is in need of money and facing having to issue new shares. I took notice when Pfe walked away from their deal with Cldx, and I took my Cldx profits at that time. Cldx had a great ride, but with their drugs still years away from approval, I believe the market has adjusted their valuation based on a realistic risk reward scenario. I hope Cldx does prevail because they are meeting a very critical need in the field of cancer treatment. I have two friends with brain cancer that are undergoing treatment.
Nothing wrong with taking profits. I am holding because I like GE long term with their gigantic backlog and the coming financial unit IPO. GE has fallen a couple of bucks recently, so today's price seems very reasonable if not attractive. IMHO. Good luck!
You love to label people. The biotech slide happened because guys like you pumped stocks too high on pure speculation. Blame yourself for your problems, and I am surprised that many on this message board aren't blaming your also for the buy recommendations you posted. My portfolio is just off of all time highs. I have a balanced portfolio that includes industrials, pharma, banks, corporate bonds, a mining company, and two biotechs. My biotechs and my mining stock are speculative and I am down on them. All the other holdings are up. With the stock market just off all time highs, I find it amusing that you would be blaming anyone but yourself for any real or imagined loses you may have. Take responsibility for your own poor judgment and stop blaming others for your woes. I do find it amusing when you whine.
Frankie, funny that you should comment on someone's outward appearance as being ugly. I don't know what you look like, but when it comes to your comments, your words and thoughts are about as ugly as they come. I guess you are trying to be a Rush Limbaugh type, but do us all a favor and stick to stocks. I wonder what your family and friends would think if they read the disgusting #$%$ you constantly throw on this message board.
Frank, you are so full of it. You bragged just about every day how you took positions or added to positions in countless biotechs. I know you have proclaimed yourself fabulously wealthy, but man, please don't insult our intelligence. Yourbiotech portifolio has taken a super hit and it couldn't happen to a more deserving guy. If you are loaded with cash now, you must have lied about all the buying you were doing or you must have sold a lot of stock at depressed prices. Your credibility is nonexistent. Heck, I believe you said you were buying Cldx for your kids and wife as presents recently. You (they) should be down about $10 on those purchases by now.
Frank, the poster boy for hatred! You are doing a public service though. The more you spew your hatred, the more reasonable people see what America would be like if people like you had your way. Ironically, if you had the America you so desire, you wouldn't be allowed the free speech you have in which you deride just about every racial and ethnic group that is different from you. Heck, as you stated a few days ago, you even have problems with smart white kids who go to Ivy League schools. I have commented that you have a 1950's mentality before, but your last post is more reminiscent of 1930's Germany. I hope you don't show up anywhere with a gun like Frazer Glenn Cross in Kansas.
Frank likes to blame everyone else for his own failures. He "encouraged" a lot of you to jump into CLDX and a number of other stocks he follows at much higher prices. He shows a lot of brass by blaming Pres. Obama for his losses. How about all the stocks Frank pumped that have now fallen dramatically. He obviously doesn't feel any pain for your losses nor does he seem to exhibit any regret for having pumped them up so you would buy them.
That should put a great big smile on that #$%$ of yours.
Sorry to say, but unless a biotech has a drug up for approval, the market is beating the #$%$ out of it. I don't know how long this will continue, but I think those of us who jumped in to buy the dips are about tapped out. I thought we were going to see some real support today, but what do I know. I have sworn off buying more biotechs until things quiet down for more than a day or two. Good luck. I share your pain.
New antibiotics are greatly needed. I read a report where common joint replacement procedures will have to be limited in the future if we can't defeat drug resistant infections. If Cemp's drugs are effective, this will be a great buy!
I think most of the panic selling has happened. It will take some CLDX good news to change the momentum though. IMHO.
Thought my holdings would firm up today. I am down to OPK, CEMP, and PFE, but I hold sizeable positions in CEMP and PFE. I like them all, but the market is inflicting considerable pain. For those of you looking to diversify, I hold a regional bank, NWBI, which just declared a $1 special dividend besides its normal dividend which is almost 4%. I am not sure the news is well known, as the stock is only up what most of the banking sector is today on citi's positive news. It has also been mentioned as a buyout candidate, so you get that play also. Do you own DD, but it might be a little less painful, at least until the biotech sentiment changes.