Tuesday, Fed Chairman Janet Yellen remakred that biotech stocks were oversold. Almost instantly (and predictably), Nasdaq iShares Biotechnology Index plunged 4%. I wouldn't mind except I own a lot of biotech and pharma stocks.
But co-founder of Arch Ventures, Robert Nelson, does mind and reminds investors to never never pull on Superman's cape, spit into the wind, or listen to professors about the stock market. Fed's Yellen is a biotech buzzkill. Investors should recognize that and act accordingly. See Herper in Forbes.
Posted by Bruce Lehr July 18th 2014.