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Jonathan Verenger  

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  • Zillow -3%; Citron predicts shares will fall below $40 [View news story]
    Wow you're still going after zillow after all these years. Persistence
    Jul 24, 2015. 10:47 PM | Likes Like |Link to Comment
  • Are Biotechs In A Bubble? [View article]
    "I think a far better methodology would be the sum of the market caps divided by the sum of the adjusted earnings. "

    I actually did this above but adjusted it by the weighting of each holding.

    The P/E measure is a fairly useful measure in determining extremes for any given security. In this case I'm looking at the biotech ETF. Doesn't mean it applies to all biotechs but it applies to all biotechs within IBB. Remember, back in 2000, which is a pretty good period to compare this current biotech period with (due to the similarities in returns / valuations I mentioned in my article), the Nasdaq was made up of a ton of "highly volatile, hyper growth, smid caps". The P/E was fairly reasonable in the 20ish range in 2007 then it went through a parabolic rise above 100x. Interestingly, when the Nasdaq bottomed out in 2002 it was around the same levels it was at in 1997. I think there's merit to using this as a way to gauge extremes in valuation.
    Jul 7, 2015. 04:12 PM | 1 Like Like |Link to Comment
  • Are Biotechs In A Bubble? [View article]
    Not sure you read my article. I'm looking at valuations of the entire index, just as you quoted me in your post above:

    "Valuations in biotechs as represented by the IBB ETF are on par with the peak valuations in tech stocks in 2000"

    My entire article goes through the calculation of PE for IBB in its entirety (not just GILD AMGN CELG).

    Hope that helps
    Jul 7, 2015. 03:56 PM | 1 Like Like |Link to Comment
  • Are Biotechs In A Bubble? [View article]
    Thanks for the reply. What do you think is a reasonable valuation for the IBB index?
    Jul 7, 2015. 03:21 PM | 1 Like Like |Link to Comment
  • Are Biotechs In A Bubble? [View article]
    What type of stuff are you working on? I love biotech in general, just very mindful of the valuations across the board. I would need to see a very significant correction (at least 50%) to get valuations even close to what I would call interesting.
    Jul 7, 2015. 01:53 PM | Likes Like |Link to Comment
  • Are Biotechs In A Bubble? [View article]
    Thanks for the friendly comment. Like dieuwer says below, I would stick to the cheaper big caps or ones you feel you have an edge on. The overall ibb index is extraordinarily expensive as a whole
    Jul 7, 2015. 12:52 PM | 1 Like Like |Link to Comment
  • The Future Of Greece, The Euro And The Impact On Global Markets [View article]
    James - Do you have any concerns about valuations in some sectors like the biotechs? see this article, which shows a PE for the biotech sector of 100 or so (apparently iShares doesn't include money losing companies in their calculation of PE which this article covers):

    I'm a bit concerned about this spilling over to the broader indexes.
    Jul 7, 2015. 01:13 AM | 1 Like Like |Link to Comment
  • The Makings Of A Biotech Bubble [View article]
    Bubble? What bubble? Take a look at the monthly charts of regn, pcyc, hznp, rcpt,
    Jun 24, 2015. 12:05 AM | Likes Like |Link to Comment
  • Why EnerNOC Deserves A Second Look Despite Recent Poor Earnings [View article]
    The EIS segment does look interesting. Comps like $crm $athn $data etc that have SaaS subscription models trade at 7 to 15x annual revenues. I wonder if ENOC management knows this and is looking to spin off this division. If it trades at peer valuations it could be worth $20 to $30
    Jun 18, 2015. 05:57 PM | 1 Like Like |Link to Comment
  • Buy Zillow Ahead Of Massive Growth [View article]
    What is the trajectory of sales per client? ie what was it in 2012, 13, 14? If memory serves me right they were breaking this info out by cohort so that would give us some insight into whether or not the $4,300 will be expanding over time. I believe part of the bullish thesis on Z is that spending will migrate to mobile/online over time and that will ultimately expand the addressable market
    Jun 17, 2015. 06:31 PM | 1 Like Like |Link to Comment
  • Take A Bite Of The Wingstop IPO [View article]
    Only trading at 80-85x earnings today. What a bargain! Nuts how much people are paying for these companies.
    Jun 12, 2015. 12:59 PM | Likes Like |Link to Comment
  • Netflix: The Case For $1500 By 2020 [View article]
    That's an annualized return of around 19%...not exactly outlandish.
    May 27, 2015. 08:41 PM | 1 Like Like |Link to Comment
  • The Market Could Turn Bloody [View article]
    Too opinionated of an article for me I prefer stats / facts
    May 24, 2015. 02:36 PM | 1 Like Like |Link to Comment
  • IAC/InterActiveCorp Management Discusses Q1 2015 Results - Earnings Call Transcript [View article]
    I see you negative on iaci in every article. I'm assuming you're short?
    May 12, 2015. 09:30 PM | Likes Like |Link to Comment
  • Fossil's guidance creates some worry [View news story]
    The apple watch is going to be DOA
    May 9, 2015. 09:13 AM | Likes Like |Link to Comment