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Gaurav S. Sharma's  Instablog

Gaurav S. Sharma
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My areas of interest and expertise include technology, biotechnology, and financial services, among others. I have a long-term strategy and am primarily a value investor who values both growth and dividends. My picks have consistently outperformed the market and I expect them to continue to do... More
  • SoL #15: I Bought The Biotech Dip 0 comments
    Mar 15, 2014 11:15 PM | about stocks: CELG, GILD

    Yesterday was a very bad day for biotech stocks. Celgene (NASDAQ:CELG), for example, fell over 4%, with a similar situation in other stocks in the sector. There was no real material news in the industry yesterday, certainly not enough to cause such a widespread dip. The only explanation is a broad market sell-off yesterday, which happened to knock down these companies more than others.

    Because of this, I snapped up shares of both Celgene and Gilead Sciences (NASDAQ:GILD) at multi-month lows. I believe in both of these companies long-term, and today was simply a great entry point. They are undervalued considering long-term growth rates and I, despite losing money, actually liked it for the bargain prices on great stocks.

    Disclosure: I am long CELG, GILD.

    Themes: slice2014 Stocks: CELG, GILD
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