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PropThink is an intelligence service that delivers long and short trading ideas to investors in the healthcare and life sciences sectors. Our Editorial Team is comprised of individuals with a strong background in science, medicine and the business of successfully commercializing therapeutics, medical devices, diagnostics and healthcare services. Our ultimate objective is to leverage the knowledge, experience, and relationships of our contributors to introduce our subscribers to profitable long and short investment opportunities in the healthcare sector.
Successfully trading, and investing in emerging growth healthcare companies is a difficult task. Over 90% of drugs never make it out of the clinic. Huge capital requirements along the way result in highly dilutive equity financings often done on the backs of retail investors. At PropThink, we believe that due diligence is the key to success in this industry. We leverage a combined 50 years of experience in science, medicine, legal, regulatory affairs, finance, and operational industry experience to analyze companies at a highly technical level. This detailed analysis and due diligence process defines our editorial strategy and provides our subscribers a high level of confidence in our research. Our focus is on identifying and analyzing technically-complicated companies and equities that are grossly over or under-valued.
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I describe my investing style as opportunistic. Too many times earlier in my career have I been burned by "value-traps", catching a falling knife, focusing only on where the company has been and not where it is going. As a result, many of my ideas take on a growth bias, or have a near-term catalyst. Some of my best investments have been in "fallen angels" or growth companies that hit a speed bump and as result see their multiple and price collapse in a short period of time. I am not married to one valuation technique and try to balance the flaws of each by using them all (or at least the relevant ones). I am disciplined in my approach, having established many personal investing rules aimed at eliminating emotional biases that often destroy capital. My analysis is based on establishing upside/downside targets, being able to understand and model the worst-case scenario, as well the best case. More importantly, understanding what is being reflected in a company's stock price and investors expectations. I am an investor and a trader, I do not subscribe to the "buy and hold" ideology. I believe in concentration and view idiosyncratic risk as a good thing, or an alpha driver. While I have been wrong more than I would like to admit, and will continue to be wrong in the future, as long as I am right 52% of the time I should continue to do well.
The enormous advancement in the biological sciences that is taking place has begun to change the traditional way of practicing medicine. Far-reaching biological products are being approved and news about breakthroughs are occupying the media headlines. However, selecting the biotechnology firms for investment requires not only an understanding of the company's finances, but also deep knowledge of the company's potential and the potential and scientific validity of it's products and technologies.
Our Mission is evaluating biotechnology companies, their products, their technologies, scientists, managements, as well as their finances. Our goal is to impart our readers with the knowledge and insight so that they may have a heightened understanding and appreciation for the biotechnology industry.
The Prohost Letter has been in circulation since 1992. Our readers are comprised of venture capital, fund managers, investors, medical professionals and individuals with one common interest, biotechnology.
Prohost Letter is posted in the members areas on the www.prohostbiotech.com. around 40 times a year. Articles are posted several times a week for subscribers in TODAY'S HIGHLIGHTS section and in News & Comments sector for all website visitors