Betting against biotech has been a fool’s errand

With biotech stocks leaping again this week, a number of market watchers are predicting that this highflying sector is set to tumble back to earth.

But other investors remain upbeat. Former Lehman Brothers trader Jared Dillian writes over at Mauldin Economics that it “hasn’t been fun” for the traders who “have tried for years to short biotech.”

“Like tech in the ‘90s and energy in the 2000s, health care has been and will be the trade of the 2010s,” Dillian wrote Thursday. “You have the happy accident of huge technological advances and a government that seems willing, for the time being, to pay for it all.”

http://www.marketwatch.com/story/betting-against-biotech-has-been-a-fools-errand-2015-07-17

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Betting against biotech has been a fool’s errand

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