I went back and looked at last year. After the JPM conference in January, I probably used the word #bubble at least 200 times talking about the $XBI, #crypto and #EV. Today, I think biotech is at fire sales prices with an opportunity down 60%. The others still have a ways to go.
From the peak:
$XBI is down over 62%
$BTC is down over 57%
$TSLA is down almost 40%
I think biotech offers the best opportunity as #crypto has no real world applications. $TSLA is a very strong and profitable company, but still grossly overvalue by a good 20% or more.
$XBI is down over 62%
$BTC is down over 57%
$TSLA is down almost 40%
I think biotech offers the best opportunity as #crypto has no real world applications. $TSLA is a very strong and profitable company, but still grossly overvalue by a good 20% or more.
Most biotechs are trading below cash levels. I haven't see valuations this cheap since the bottom of the 202 pandemic and the lows of the 2015 Hillary crash.
We could be setting up for a multiyear bottom for biotech that could be lead by new science like #Synbio, #CRISPR and #AI/#ML in drug development.
I think that will be the next decade of biotech. That is where people should be looking for value that will lead the future of this sector. So many cheap things to buy right now. My biggest regret is not having enough cash to buy them all.
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