The Biotech Investor's Bible

by George Wolff

Book Overview

"The Biotech Investor's Bible" ist der ma gebliche Leitfaden f?r die Geldanlage in die zunehmend beliebteren, aber au erordentlich schwankungsanf?lligen Biotechnologiewerte. Dieses einzigartige Buch erkl?rt die Grundlagen von Genetik, Patenten und Therapien und zeigt dem Anleger, wie er Biotechnologieunternehmen, deren Spitzentechnologie und neuesten Produkte bewertet. "The Biotech Investor's Bible" bietet eine interessante Zusammenfassung der relativ...

• Format: Hardcover
• Language: English
• ISBN: 0471412791
• ISBN13: 9780471412793
• Release Date: May 2001
• Publisher: Wiley
• Length: 336 Pages
• Weight: 1.42 lbs.
• Dimensions: 1.2" x 6.4" x 9.2"

Customer Reviews

Finally! A Thoughtful Investigation of Biotech Investing

Wolff's seminal work is a treasure trove of information for the serious biotech investor. It is also a full-fledge reference for continuing study in the science that underlies the industry. Wolff adroitly circumvents the profusion of hype that currently engulfs much of the discussion of biotech investing today. Where so many so called biotech experts seem determined to enflame the irrational exuberance that has plagued this industry in the past, Wolff chooses instead to lead the interested investor to concrete data and careful analysis. As an investor disicnlined to throw money at chic trends, I benifited greatly from his meticulous segmentation of the biotech market. Such an approach allows for a clear and distinct understanding of the risks involved. His keen eye on the importance of diversification spoke to my conservative tendecies, while his analysis of particular bitoech companies provided the necessary confidence to make plays in this volitile areana.Wolff's decision to separate the work between biotech investing and biotech science was critical to its success as an enduring reference. One can get the financial information one needs now within the first section; deeper scientific understanding of the industry can be developed gradually, by returning to the second section to continue one's education. I recommend this work highly and without qualification.

Don't invest in Biotechs without reading this book

Like most people, I have read with interest many of the articles written in the last year about new biotech medical breakthrus, human genome project updates and the wild stock market performance of so many of these dynamic companies -- read, but not really understood. I was even tempted to invest in these cutting-edge technologies, but had no idea where to begin to research this specialized field. Until now... The Biotech Investor's Bible was a surprisingly easy and compelling read and loaded with an amazing amount of useful research material and background information. As a non-scientist, I was relieved by how clearly and even entertainingly Mr. Wolff writes about these companies and about the investment process. His enthusiasm is contagious. I found the "8 questions to ask yourself before investing" and the extensive information on how to use the internet to do research on this sector especially helpful. Understanding the difference in the three phases of clinical trials and how and where the results are reported is not only useful information for anyone evaluating investment opportunities, but for anyone wanting to keep abreast of promising new medical treatments. The first half of the book focuses on investment opportunites in this field of the future and the second half more on the science behind the headlines and the biotech companies. To my surprise, while I didn't fully understand everything about the science, I couldn't put the book down. I'm confident I now know more about this field than my financial advisor and look forward to applying what I've learned to diversify my stock portfolio.

The Biotech Investor's Bible

Kudos to George Wolff for not dumbing down biotech. The Biotech Investor's Bible is a serious work for those serious about making money. One does not have to read the last third on the science of biotechnology, but I would highly recommend studying the first two-thirds on investing very closely. While complex, Wolff's theories on evaluating companies are well thought out and demonstrate a great deal of research that would be beyond the abilities of most investors. One can, however, parlay that knowledge into building a portfolio in what will surely become the world's biggest industry.

Review

At last a book that makes some sense of the biotech sector! The author, George Wolff has a very straightforward approach, starting with the big picture of the industry's development and then getting down to specifics about market behavior such as the reasons for the sector's incredible volatility. Wolff's analysis involves breaking the sector down in Four Tiers. Each behaves somewhat differently with the lowest Tier being both the riskiest and the cheapest to buy into. Tier One encompasses the well-known majors such as Amgen, which are relatively safe but less exciting plays. I think Wolff has set out a framework of understanding that allows investors to discriminate among the companies to find a reasonable balance of growth potential and security. Most of the book is strictly about investment analysis but the second part of it (Book 2) tries to decode the scientific background. I like his analogy, comparing the workings of DNA and cellular machinery to the innards of a computer. It's a clear enough explanation to convince me that I finally understand this abstract stuff. All in all, a good, illuminating read for people like me who are interested in the industry and where it's going. The investment advice is sensible and has a reasonable tone....not a "get rich quick book." I know there's another book on the market that looks strictly at the medical side of the biotech business. I like the fact the Wolff has gone beyond that to look at the ways the industry can affect a lot of other major sectors such as energy, chemicals, textiles and so on. Wolff believes biotech is going to become the biggest industry in the world and now that I see where the industry is headed, I think he's right.

Biotech - What every serious investror must know.

I highly recommend this important book! You would have to be living under a rock to have not heard about the great advances made recently in genetics and biotechnology. The potential for a cure to cancer, the ability to fix previously incurable diseases, and many other medical advancements are becoming closer to reality because of biotechnology. But where could an investor go to educate himself on the many issues facing this industry? Nowhere. Until now. Investors who can sort through the myriad of scientific, corporate and government issues relating to this industry will be have a great advantage over the rest of us. George Wolff's highly readable primer gives its readers this advantage.As an investment advisor, I know the great potential of biotech. All you need to do is look at the multi-hundred billion dollar market capitalization of the Mercks and Pfizers to know that success in drug development holds the key to untold riches. But which companies will get there? How do you as an investor approach this very complex field?George Wolff's Biotech Investor's Bible thoughtfully lays out the key issues an investor must be familiar with. Product pipelines, alliances with major drug companies, strategies companies use to speed up FDA trials, valuation techniques, and a myriad of other important issues are thoroughly explained by Wolff in plain English. A huge run-up in biotech stock prices in early 2000 was sparked by the expectation that the human genome would be mapped. The bubble burst in March 2000, leaving many of the hottest stocks broken and battered. The theoretical excitement however, has given way now to a market that is focused on the companies that have an aggregate of several hundred drugs in various stages of FDA trials. Many of these stocks have recovered and in some cases gone on to new highs. Wolff provides not only the overview of the industry you need, but also the means to determine which individual companies show the greatest promise.Without this book and its comprehensive explanation of biotech investing, I would never attempt to participate in this market. But you should ask yourself: can you afford not to? With the tech sector in a shambles, with the stock market stagnating in general, what will bring on the next high-growth trend? A strong case for biotech is made by the author. The fast pace of research, the growing base of scientific knowledge in the field, and the several current winners like Amgen which sports a $65 billion market capitalization, all clearly point to the future development of many new, effective treatments which will be brought forth at an ever-increasing rate for decades to come. I for one plan to stay informed and involved with my investment dollars.You truly would omit this book from your reading list at your own financial peril.