Biotechs Target Pain and Flu
Jay Silverman, biotech analyst at The Medical Technology Stock Letter, looks at some favorite biotech stocks that are addressing potentially large, new markets.
Steve Halpern: We're here today with Jay Silverman of Medical Technology Stock Letter. How are you doing Jay?
Jay Silverman: Hey Steve, thank you.
Steve Halpern: Could you tell us a little about your background and your interest in biotechnology?
Jay Silverman: Certainly. I actually began my career in 1987 with Nomura Securities, the largest broker in the world at that time, a Japanese firm.
They were very big investors in Genentech and over those last 27 years I have been an institutional analyst for three major investment banks, the last one being Robertson Stephens in the beginning of 2000.
Steve Halpern: What brought you over to the Medical Technology Stock Letter?
Jay Silverman: Both John McCamant and I have been friends since I started. I knew his dad quite well. Our philosophies are similar. We want to work with people who are smart, who we trust, and who will also work hard.
We also love the independence of the newsletter. We make our own decisions, we're not motivated by financial payments from investment banks or corporate finance and that gives us the freedom.
Actually John is in San Francisco and I'm in New York, which gives us coverage on both coasts and it seems to be working very, very well.
Steve Halpern: Well, biotech has been among the markets' best performers and, in fact, they've had a great summer.