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Vinny Catalano Ishares Nasdaq Biotechnology IBB-Q PAST TOP PICK Sep 22, 2009

(A Top Pick Jan 2/09. Up 14.8%.)

Vinny Catalano

Owned

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$82.530

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PAST TOP PICK

(A Top Pick Jul 09/20, Up 14%) Still likes it, but took profits as the valuation was getting expensive, plus the shift from growth to value. Long term, lots of tailwinds.

BUY ON WEAKNESS

IBB gives him exposure to Moderna, its largest holding, and yet there's no single-company risk here. Biotechs have been under a lot of pressure this year, so he sees an opportunity (past of the pressure has been from shorting) if you're patient. He likes the future of biotech.

DON'T BUY

IBB vs. XLV XLV has done very well, and also well positioned for the type of market we're in right now. Cap weighted. A fine way to get pure beta in the sector. A better choice than IBB. IBB is much more concentrated with a higher risk in biotech. Smaller caps have lagged large caps since last year, to the tune of 50-60% relative performance, because of the impact of higher interest rates on growth, plus the FDA's become slower to approve new drugs.

WATCH

He sold IBB last month, though he owns a lot of Regeneron (for its fundamentals) in the biotech space. You need to own individual names, not the macro in biotechs. But he could re-enter IBB when the time is right.

BUY

He likes biotech, focusing on longevity research. Better than owning a single biotech stock where you can lose 80% just on negative research findings. It's completely random--you have no idea what the outcome will be on these biotech products. Might as well own IBB and lessen risk.

BUY

The IBB has never had two down years in a row, except this and last year. It's having its best month since June 2021.

HOLD

He bought this, expecting biotech to break out, but it's been deeply disappointing. It hasn't worked yet.

BUY

The sector has been up. It makes sense because biotechs do well as rates fall; these companies finance long-duration trials then marketing.

BUY

He prefers to own individual names, but you need to own biotech, especially if there's a change in Washington (less regulation). It's very sensitive to interest rates, which will likely decline.

BUY

He likes big pharma with AbbVie his favourite name. Pipelines are starting to fill, and if rates hold and R&D gets cheaper, these stocks will continue to work.

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Vinny Catalano Ishares Nasdaq Biotechnology IBB-Q PAST TOP PICK Sep 22, 2009

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