Biotech Stocks: Seeing Rainbows, Missing The Rain
3/27/2014 8:16:24 AM
This week’s 10% drop in the Nasdaq iShares’ Biotechnology Index — not to mention the fact that biotech stocks, after a torrid two years, are up less than 4% year-to-date — has investors worrying that the sector’s two-year boom is over. We’re living through major changes in how medicines are developed that will improve our lives for the better. But that doesn’t meant biotech stocks won’t retreat. Quite the opposite: Biotech innovation is funded in great part by investors whose timing is wrong, and who get left holding the bag at the end of the sector’s inevitable boom cycles, only to have some of the companies, products, and technologies they bet on succeed later on.
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