Feuerstein's Biotech-Stock Mailbag: Elan
I received a few barbed emails from folks angry that I ended this Elan column Wednesday by stating that I "felt a whole lot better" after bapineuzumab's stumble.
"MM" emailed to say he thought the comment was "disgusting."
"I have no idea how you can feel a 'whole lot better' when an Alzheimer drug fails," he added. "Millions of people suffer from this devastating disease and you're happy because a drug failed and you were right and some shorts made some money? Absolutely disgusting. Writers for Wall Street rags have no soul."
My joy this week comes from being right about the stocks I cover in this column and others. That's what I do -- I write about stocks. When those stocks behave the way I predicted they would -- up or down -- I'm happy. When they don't, no one is more angry at myself than me.If you invest in biotech stocks, your main concern should be the performance of those stocks. You should be making investment decisions based on whatever flavor of stock-picking floats your boat -- fundamentals, charts, momentum, value, growth, etc. What you shouldn't be doing is getting emotionally involved in your stocks. Sure, that's tougher in biotech since many of these companies are seeking cures or treatments for horrible diseases. But once you become a cheerleader for a cure, you're no longer an objective investor. In other words, you're in trouble. Alzheimer's is a horrific disease that affects millions of people and their families. I hope that one day someone develops a drug that can treat Alzheimer's effectively. But I don't write about Alzheimer's disease or cancer or AIDS. I write about the stocks of companies that seek to develop drugs for those diseases. Those are two very different things.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV