Prohost Letter #383
The Market - Recent tails about the market and the biotech sector are true thrillers. By true we mean no-fiction. The accounts lack common sense. Professionals' interpretations of the stocks' and of the market's moves are bizarre and misleading. General investors complain only when the stocks' volatility gets out of hand, yet, do not object to the hype, or interferes against the baseless market's moves. They sit still watching their savings - billions of dollars disappear and land in the safes of short-selling hedge funds, which make up for their losses and multiply . . .