David Fleer
Bristlecone Value Partners, LLC
12301 Wilshire Blvd., Suite 320
Los Angeles, CA 90025 USA
Work 1-877-806-4141

Merger Mania Under Scrutiny

November 19th, 2015

In our Q2 review, we pointed out the exceptional long term performance of health care stocks, and in particular, the improbably strong performance of pharmaceutical and biotech shares (noting that about 70% of the companies in the Nasdaq Biotechnology Index had not even reported a profit over the prior twelve months). Our conclusion at the time: “It’s enough to leave the citizens of Graham & Doddsville scratching their heads.”  In the intervening months, a number of interesting developments have taken some of the shine off this sector. Read the rest of this entry »

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