Biotech valuations vs bubble stocks
I've been investing since the late 90's and it's my firm belief that we are in are in another huge stock bubble aided and abetted by the Fed. It's generally not a tech bubble although there are pockets of absurd tech valuations thanks to wall st analysts. Large biotech's like Celg, Gild, amgn and biib are still relatively cheap compared with the overall market but there are also biotech bubbles (e.g. isis IMO). Here's a list of some of my favorite bubbles in no particular order. Lulu, rht, cmg, wfm, tsla, nflx, sbux, etc almost ad naseum. I'm short tsla, lulu, nflx, and wfm and thinking of adding sbux and rht. If celg, gild or amgn had the valuations of the average of the above listed equities we could collectively buy our own desert island