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Money and Investment

Discussion in 'Anesthesiology' started by ThinkFast007, Jun 15, 2005.

  1. ThinkFast007

    ThinkFast007 Senior Member
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    Ok I know this isn't the Stocks/Bonds forum, but since they say anesthesiologists are the 'wallstreet junkies' of medicine, I thought perhaps this would be pertinent, atleast different from the daily grind on this forum.

    I've heard that this new drug called BYETTA for the tx of DMII is coming out. Supposedly it's a combined effort b/w Amylin and Eli Lilly.

    Check this link out:
    http://uk.biz.yahoo.com/050610/241/fkvcc.html

    I know that the above link isnt to the NEJM or anything, but I've even heard from pharmacists that this new drug is going to be the biggest hit. I'm thinking of investing in Amylin. Anyone know any reasons not to?

    Thanks

    P.S. I dont work for Amylin or Eli Lilly...just providing some that'll HOPEFULLY help us pay back our loans :laugh: :laugh:
     
  2. UTSouthwestern

    UTSouthwestern 1K Member
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    This would be kind of a cool thread to keep alive with other investment possibilities.
     
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  3. lvspro

    lvspro ASA Member
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    Yo
    Stocks are the coolest... when yer winnin'. Anyhow, I agree w/UTSouthwestern that this would be a good sticky.
    Checkfree on the nasdaq (ckfr) is a pretty cool stock to have. One of my delivery guys told me about it 5 or so yrs ago. Anyhow, he said he made a mint... moved from like $5- 120 or something like that, and recommended it. I checked it out, but was a little hesitant d/t fears about inflated e-stocks. Anyhow, during the e-collapse a few years back, it went to like 10 bucks, and I decided that it was a good time to buy... but chickened out. I'll tell ya now that not a day goes by I don't kick myself for not listening to this wise sage of budwiser delivery. He bought a truckload, and is now retired.
    Just FYI, it's just a little co that handles internet payments for a few small businesses like fifth-third bank, and wachovia.
    Once again... great thread.
    Peace
    Lo
     
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  4. UTSouthwestern

    UTSouthwestern 1K Member
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    There is one stock that I have to find out about for sure, but the company is a competitor of medtronics and based here in Plano. It is growing and providing more innovative versions of equipment that has been largely controlled by Medtronic (spinal cord stimulators, pain pumps, etc.). What makes them attractive besided being fast growing and innovative is that the company has $200 million dollars cash in the bank even after building all new offices and facilities in Plano (paid with cash). I think it is ANS, but I'll have to look into that.
     
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  5. VentdependenT

    VentdependenT You didnt build thaT
    Physician Moderator Emeritus 15+ Year Member

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    Muy interesante.

    I agree that this would make a super sticky guys!

    Seriously though I am trying to get into stocks as both my brother and step dad are stock junkies. Due to my current ignorance I feel like a moron when it comes to discussing them.

    I'll add Eli L. to my little stock watch. I currently have enough money to buy 4 shares!
    http://www.forbes.com/markets/2005/06/13/0613automarketscan09.html
     
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  6. proman

    proman Member
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    We should turn this into a sort of investment club. People could propose a stock, but then have to provide a good case for it. We could then argue the merits.

    Here's some advice:

    1) Open a Roth account, contribute as much as you can up to the limit. If you open with Ameritrade they'll send you a book on basic finance (from Montley Fool). I have mine with Ameritrade

    2) Contribute to any matched account. Typically you can only invest in mutual funds/bonds in these accounts. But, you can roll it over into a Roth later. Well worth it since the match gives you 100% return.

    3) Buy stocks. Mutual funds are safer but you end up paying fees regardless the performance. I tried to go with "large cap growth" stocks and haven't done great. My brother-in-law goes with value small cap and has a 40% annual return over the last 5 years. Believe me, that's huge.

    4) Most important: don't be a pig, don't be greedy, don't believe your best friend's brother's sister in law's hot tip. The only thing I agree with Jim Cramer is "Bulls make money, bears make money, pigs get slaughtered" And don't trade on emotion.
     
  7. Idiopathic

    Idiopathic Newly Minted
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    I believe you, I just dont believe your brother-in-law.
     
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  8. proman

    proman Member
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    No problem, but I set up his stock info in Microsoft Money so I believe him. Helps that he bought LionsGate Film (LGF) avg around 1.20 or so, now it's at 11.00. He's at the 24 hours of LeMans, when he gets back I'll ask for his permission to post his transaction history. I don't remember enough of the details but he has a knack for picking stocks that double.
     
  9. OP
    OP
    ThinkFast007

    ThinkFast007 Senior Member
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    Vent...screw Eli, you're right it's way too much. I'd invest in Byetta (co-author) Amylin. The ticker for amylin is AMLN. It went up more than a buck today.

    Alright in terms of good stocks. I'll start.

    I've recently been thinking of Vaxgen.....ticker is VXGN.
    Here's some info about them:
    http://www.marketwatch.com/tools/qu...ts&dist=bigcharts&symb=VXGN&sid=150461&time=8

    Basically, they're the guys that made up that HIV/AIDS vaccine or was developing it. And get this, on 6/7/06 their CEO just got appointed to the National Vaccine Advisory Committee. I used to own them, but I sold them but am thinking of getting back in. So do the math..they're trading at 10 bucks right now. I'm sure that the CEO being on this committee wont have any influence at all or anything :laugh: :laugh:

    Another thing guys. If you are thinking of looking up stocks a good source is www.bigcharts.com.

    If you are thinking of getting involved in actual trading, I'd suggest Scottrade over anyone else. I used to have Ameritrade/Datek....here's the thing, with Scottrade you can just buy into something and sit on them and there isnt any 'inactivity' fines. Plus each trade is only $7 (sure you can't do limit orders or anything, but heck we're not trading like 10,000 shares or anything at one time). I think it's an economical way to go if you're a MSIII (like me) or a resident.

    Anyone else have any good tickers?
     
  10. Tenesma

    Tenesma Senior Member
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    i hate to be a party-pooper, but i think this topic does not belong within this forum... for two reasons....

    1) not related to gas - really
    2) the potential for this to be usurped by people trying to push specific stocks...
     
  11. USFOptho

    USFOptho Senior Member
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    Although I'm an optho guy myself...

    I found PRW during biochemistry first year (I was googling glycoscience), and this company came up. They have an amazing drug delivery system for chemo, using sugars on cells, and their stuff looks promising. Pricing is good (under $3, currently), so check it out. Their pipeline is deep, combining with 5-FU, Ireneotecan (sp), Daunorubicin, and more.

    www.pro-pharmaceuticals.com

    USFOptho

    Disclaimer: I do own this stock because the biochemistry makes sense, so take it or leave it!
     
  12. OP
    OP
    ThinkFast007

    ThinkFast007 Senior Member
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    I see your point, but........

    1)true although technically not related, most Gas docs I guess outside of the academic arena, talk stocks all day long. Also, like ProMan was saying, I think it would be kind of cool to have an investment club thing going on here. I mean heck, the EM guys have an EM Journal Club. I think it helps for some comic relief.

    2)while this could be true...as with everything else on internet forums, take everything with a grain of salt.

    One more thing...I think we should do what most docs do when they're presenting some info. Have a disclaimer saying whether you own the stock or not (while I suppose ppl could BS that, I'd hope that some ethics would be in effect).

    my dos pesos
     
  13. VentdependenT

    VentdependenT You didnt build thaT
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    Noted. We'll see how this one plays out. If a few more folks feel it is inappropriate/distracting I'll unstick it.
     
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  14. powermd

    Physician Lifetime Donor Verified Account 15+ Year Member

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    I've been watching Somanetics (SMTS) for a few years now, they are marketing a cerebral oximetry device that is suppposed to improve outcomes in neuro and cardiac cases. The stock has really broken out in the past few months, almost doubling. Of course, I don't own any.
     
  15. jetproppilot

    jetproppilot Turboprop Driver
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    I disagree with the poster, Vent. I think this thread is a great idea, and I don't think we have to worry too much about investment bankers pushing stocks here, but even if they did, welcome to the real world!

    Theres more to anesthesia than just the practice of anesthesia- this site has alot of residents and med students visiting here, and just the introduction of the idea that it is good to invest your money somewhere is a good statement to get out there. Which investment vehicle? You decide, after you educate yourself. Here's my advice:

    1)PAY OFF YOUR DEBT FIRST. You guys are gonna go from making 35-40k a year (maybe 100k if you moonlight alot) to a much larger paycheck. Its easy to go on a spending spree since you've been a resident slave for 4 years. Don't do it!
    Go ahead and buy a new car or something like that to make yourself feel better, but wait on the fancy house,etc. I rented a house for five years since I had so much debt after residency (almost 200K). Debt is an anchor. It makes you worry. It can affect your marriage. It makes you work harder and longer than you have to. Get you debt paid off, then you can buy your fancy house and whatever else floats your boat.
    Most groups have a 401k Plan or some other tax-deferred retirement vehicle in place, so you'll be contributing to this. But any "extra" cash should be thrown at your debt.

    2) PAY OFF YOUR DEBT FIRST

    3)PAY OFF YOUR DEBT FIRST

    4)After your debt is paid off, you can start using some of your extra money to buy investment stuff. Don't know anything about the stock market? There is a plethora of info on the internet, The Motley Fool being my favorite for stock market basics (what is market capitalization? Whats a P/E ratio? What is important to know about a company before I buy a stock? etc etc).
    If you have no interest in the stock market but you want a piece of the action, its very important to find a trustworthy financial dude. My rule is to trust NOONE, so again, be very picky. Ask your new partners who they use and if they are satisfied with him/her. As someone mentioned earlier, there are many financial dudes out there that put their interest first. They may recommend stocks or investment opportunities they are making alot of money off of. So beware.
    I prefer to do my own research when investing money above and beyond my tax deferred retirement funds. Yahoo has a great stock section- the internet has really revolutionized this; one can now find company info, spread sheets, cash flow, debt load, etc, information once only available to stock brokers and investment dudes.

    5) It is very hard to make money in the stock market quickly. Think like Warren Buffett- buy stable, high quality companies and hold them for a long time. Sure, take risks here and there (like biotech companies...the biotech arena will probably show considerable growth in the next ten years).
    Remember the day trading phase? Very few of those people made money.

    One of my favorite stocks right now is Garmin (GRMN), maker of GPS equipment. Their aviation GPS units are by far the best and most liked by pilots. I bought it a cuppla years ago at 21, sold it when it reached 45, but I wish I had just held onto it as it climbed even higher. As of late the stock is down so I bought it again at 40 and I won't sell it again unless something drastic happens (CEO change, scandal, etc). This company is an example of a financially sound company that makes great products that sell like hotcakes, at least for now.

    Anyway, the most important thing you should take from this post is don't even think of going crazy with your money until your debt is paid off. I can't tell you how belated I was when Sallie Mae was not my mistress anymore. :D
     
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  16. jetproppilot

    jetproppilot Turboprop Driver
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    WOOPS! I meant ELATED that Sallie Mae was not my mistress anymore.
     
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  17. PCOM06

    PCOM06 Junior Member

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    I understand what JPP is saying here, but on the issue of paying down your debt first and foremost, I disagree. Anyone who consolidates now will have a 30 year locked-in rate of 2.875% which can drop to 1.875% after 3 years. (By the time I have a salary, I fully and reasonably expect interest rates to be much higher than this.) If I can get >3% return on my "extra cash" with a low to moderate risk portfolio, why wouldn't I make my minimum payments and invest the rest? And I couldn't imagine paying off debt instead of putting the maximum into my Roth.

    Now while it may be tempting to buy myself lots of new toys once I make money, that's probably not the best "investment." But there's nothing wrong with or dangerous about having debt as long as you budget and don't invest your money haphazardly. The only way I could see myself funnelling all of my extra cash into debt would be if the best investment opportunities available were only earning 2%.

    I will throw in the disclaimer that I am still a 4th year student, and while I will have 200K in debt, I haven't had to pay off a dime yet and won't for another year (at least). And intangible pressures (anxiety, marraige, etc) can be extremely powerful and overwhelming. But I feel if you can actively manage your debt and can mentally cope with the burden, it would seem to me that there are better places to put your money.

    PCOM - 2006
     
  18. Nimmuk

    Nimmuk Junior Member
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    First, I am a first year medical student. When I read this thread, I immediately wrote an email to a good friend of mine who was the director of the Pharmacy from the BEST hospital in the United States: He just recently retired; take it for what is worth: I will protect the identity of this person for the obvious reasons.

    this is a copy of the email he wrote to me:



    Hi ******(insert my name)

    One thing that you have to keep in mind when investing in the pharmaceutical industry's stocks is the reputation of that drug company. Yes Eli Lilly is one of America's biggest drug companies but not because it can come even near to the European drug companies such as Merk, Pfizer, Sandoz, Ciba, etc. in research and development, but only because insulin was first isolated in Rochester, New York and Lilly ultimately got the patent on insulin. Insulin put Lilly on the World’s map with very large financial rewards. Prozac also brought in quite a sum of money but Prozac is a time bomb. At any time, some sharp attorney from no where can slam the duck on Lilly when a bunch of crazy's commit suicide after initiating Prozac drug therapy.
    Lilly is not in the fore-front of oral anti-diabetics at all, and again they come up with another injectable type-II anti-diabetic? Who wants an injectable type-II anti-diabetic when there is already so many good oral anti-diabetic - Glucophage, Glucotrol Slow Release, Micronase, etc. The other company along with Lilly in this venture, I don't know at all. This new drug, I don't know at all. And, I don't see great future in using drugs to treat diabetes in the not-too distant future - it is a surgically correctable problem. I have seen many patients at ******* HospitaL that received pancreas tissue implants, who, shortly after the procedure needed only meager amount of pharmaceuticals to control their previously uncontrollable diabetes.
    Without knowing the specifics, if I were going to invest in this new drug, I would only invest a small amount of money. Sorry for being so pessimistic but I have to be protective with you. The last time I checked the stock market, the bio-technology products were doing very well. I haven't looked into the new drugs that are coming out……….
     
  19. OP
    OP
    ThinkFast007

    ThinkFast007 Senior Member
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    Hey there nimmuk
    great post, i never knew lilly was the first to market insulin in the US. Your post just goes to show how different pharmacists view different stock. I'll be doing my medicine rotation next, I'll have to keep an ear open and see what MDs/Pharm reps are saying about this new drug. Supposedly, byetta is part of a new class of DMII meds so....

    but thanks for the heads up :thumbup:
     
  20. jetproppilot

    jetproppilot Turboprop Driver
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    No matter how low the interest, theres still a fairly large sum of money sitting there that you owe the bank. Investing money somewhere when you could take the same money to reduce your debt load is a risk you don't have to take. No investment is risk free (1999 market correction, Proctor & Gamble, Enron, etc). It is risk free to lower your debt burden.
     
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  21. lvspro

    lvspro ASA Member
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    Hey all
    Since cancer became the #1 killer of americans less than a year ago, I have been watching a few of these biotech stocks that are involved with antineoplastics. I think these co's are poised for a pretty good increase over the next few years. The interesting thing is that many of these co's haven't made major changes in their stock prices so I am willing to bet that over the next few years we may see a better than average return. I know that many drugs are discovered thru serendipity, but I would bet on the co's focused on cancer research if my $$ was on it. On another note, anyone hop on the bandwagon for cardio equipment a few years back when heart dz was the #1? Wonder how that turned out.
    btw, I agree with JPP about paying off debt first. Most banks will be hesitant to give you that 500k loan for a new house 1 year post-res even if you show them check-stubs totalling 300k with a 200k debt looming o'er yer head. Even if they do, I wouldn't expect a very good interest rate... further compounding your financial woes. I can think of a few cats making north of 300k that can barely afford a happy meal because they're stretched so thin. Not a good position to be in after putting in so much hard work.
    Peace
     
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  22. bignursemd

    bignursemd Member
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    I have to agree with the many remarks regarding paying down debt prior to really sinking your teeth into the market. However, for those of us who are waiting quietly to finally rid ourselves of Sally (that's Sally Mae :mad: ) there is nothing wrong with being well informed...
    On that note I personally prescribe to the The Motley Fool .... awsome daily newsletter, and usally an unbiased opinion about basic steps regarding investing, e.g. stocks, vs mutual funds etc...... Honestly, I've been picking through my new hire package for residency.....tax sheltered annuities , 403B's etc...and I'm so happy that I have a basic understanding of the options that are out there.
    peace
    ---- brief article about mf investing from the Fool...... i
    By Shannon Zimmerman (TMF Zman)
    Advisor, Motley Fool Champion Funds

    This past weekend, I had the thrill of a lifetime: I celebrated
    my first Father's Day as an actual father.

    For gifts, I received a hammock, which I immediately assembled
    and read the newspaper in, and a fancy-schmancy grilling-out
    toolkit from Williams-Sonoma (NYSE: WSM).

    Not feeling especially motivated -- what with the hammock and
    all -- I haven't put my new tongs, sauce brush, and sundry other
    pieces of impressive-looking equipment to work quite yet. Still,
    it's certainly nice to know that the next time I spring into
    barbecuing action, I'll have the right tools for the job.

    Best of all, though, was the card I got from my 11-month-old
    daughter, whose mom says she merely transcribed what little
    Penny Lou told her to write. I have my doubts about that story,
    but it sure was a sweet message, one that made me think,
    naturally enough, of mutual funds.

    Why so, you ask? Good question. Here's the good answer: To my
    way of thinking, a portfolio made up of carefully selected
    mutual funds is tailor-made for folks with more on their minds
    than how the market happened to fare on this day or that.

    DON'T GET ME WRONG
    I invest -- very selectively -- in individual stocks, too, and
    I certainly think performance tracking is part of the fun of
    investing. Indeed, it's for that reason that we keep daily tabs
    on each recommendation I've made since the Motley Fool Champion
    Funds newsletter service first opened for business back in
    March 2004.
    http://www.fool.com/m.asp?i=1685110&u=31914327

    And, like many of you, I'm planning for my family's financial
    future based on assumptions about the rates of return I'll earn
    over the number of years I have to invest. Those returns,
    therefore, matter a lot to me and so, to put it simply, my
    personal and professional aim is to beat the market over the
    long haul. But -- and this is key -- I want to do that with a
    minimum of volatility.

    Take this year, for instance. So far, the S&P 500 has managed to
    eke out just a small gain. Folks who invest in such 500-tracking
    stalwarts as SPDRs (AMEX: SPY) and Fidelity Spartan 500 Index
    (FUND: FSMKX), for example, may not be exactly thrilled with a
    return in the neighborhood of 1%, I'll grant you that.

    Still, compared with folks who have been invested this year in
    such individual names as IBM (NYSE: IBM), AIG (NYSE: AIG),
    United Parcel Service (NYSE: UPS), and Verizon Communications
    (NYSE: VZ) -- S&P 500 stalwarts all -- they've had a smashing
    success: Each of those companies has posted a double-digit loss
    thus far in 2005.

    This dynamic works in the opposite direction, too, and if you
    can stomach the volatility, your search for nearer-term
    10-baggers probably lies in the direction of individual stocks.
    For me, though, when it comes to saving for retirement,
    I prefer to ride a Segway, not a roller coaster.

    AH, SWEET SANITY
    Which is precisely why I invest primarily in funds.

    A portfolio composed of just individual stocks can easily be
    rocked and rolled by a mere shred of ultimately meaningless news
    -- a "bellwether" company missing earnings estimates by a penny,
    say. With funds, on the other hand, there's never a need to hang
    out at your computer all day, constantly refreshing your browser
    to find out just how much more (or less) wealthy you are than
    before that analyst on Squawk Box made his off-the-cuff remark.

    Mutual funds are priced just once per day, after the close of
    business and after all the day's market dust has settled. As a
    long-term investor who likes to hang out in his hammock, I like
    the sanity of that policy.

    Indeed, I take it as a comforting metaphor for the process of
    fund investing itself. At the very least, it sure beats whatever
    the heck is happening on the floor of the stock exchanges
    whenever you see them as backdrops during business news shows.

    What are those people doing, anyway? Whatever it is, it sure
    makes the concept of "efficient markets" seem like an oxymoron,
    doesn't it?

    CHOOSY INVESTORS CHOOSE CHAMPS
    Still, while I think fund investing is the smart choice for
    virtually all long-term investors, that's only the case if you
    pick the right funds. And that's precisely why Champion Funds
    exists. The newsletter focuses like a laser beam on just those
    funds with core criteria -- cheap price tags, talented
    management, and sound investment strategies -- that make 'em
    worthy of a portion of your nest egg.
    http://www.fool.com/m.asp?i=1685111&u=31914327

    What's more, they're the kind of funds that allow you to swing
    (or even sleep) peacefully in your hammock while the stock
    market world churns and turns.

    What, I ask you, could possibly be better than that?
     
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  23. livewires

    livewires Membership Revoked
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    What a cool thread. I'm a 4-th year getting ready to apply to gas programs and a complete stock junkie. I'm pretty active in the market these days and I go through bouts of interest followed by periods of disgust. Most people base their invesments on fundamentals, security, etc.. I have completely relied on technical analysis for profit and it's gotten to the point where I could give two-****s what a company does, how it functions, or what sector it's in. I am what you call a swing trader or position trader. I don't daytrade but I will ride a stock up a few bucks until it corrects and then bail. My analysis is solely technical and based on price flux and patterns. I use candlestick signals coupled with moving averages and market conditions to position my trades. This is an awesome thread and I hope it sparks a lot of interest. Here are some tickers that I have been following based on technical analysis. I do all of my trading on Etrade.

    1) LUV (Southwest airlines: trading around $13.85 this one will almost certainly hit $15.00 in the next two weeks or so--easy profit)

    2) LMLP (trading volume has been low and has kept me from buying but the 2-year technical pattern imply it should make a nice little move toward the upside).

    3) GLW (Corning is the bomb! Ride it up until around $20.00 and bail)

    4) ELN (Elan has plummeted before and it ALWAYS comes back. I'm counting on this one to pay off 1st year of med school--guess we'll see)

    5) AVNX, BWNG, DAL, FCEL, LTXX, DAB, BIIB, get em when they dip, make a few bucks and BAIL!!!


    Please let me know if you would like me to provide a technical opinion on a particular stock. I would be happy to review it.
     
  24. Scrub MD

    Scrub MD Senior Member
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    What about WYNN?
     
  25. livewires

    livewires Membership Revoked
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    From a technical standpoint, WYNN Resorts LTD (hotel/casino resort in LV) looks to have completed a full cycle over the past year and since going public in early '03. Although it has experienced a recent low-volume surge, I feel as though it is still in overbough territory and will continue in phase III for some time. In fact, I'd probably short this stock based on it's technical picture. I think it has some room on the downside and will likely continue selling off in the near future. It's recent fall-out occurred on heavy volume, which is ominous for a stock. Unless you know something, I'd probably dump it or avoid it all together.
     
  26. needadvice

    needadvice Member
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    Consider investing in companies which are developing RFID technology. I think this technology will have a tremendous impact in health care with both products and patients. Many believe that this will be where technology investors will be shifting their money in the next few years. I bought CKCM around $6, its now in the low $20s with solid growth. I only anticipate it rising as it remains undervalued.

    Radio frequency identification, or RFID, is a generic term for technologies that use radio waves to automatically identify people or objects. There are several methods of identification, but the most common is to store a serial number that identifies a person or object, and perhaps other information, on a microchip that is attached to an antenna (the chip and the antenna together are called an RFID transponder or an RFID tag). The antenna enables the chip to transmit the identification information to a reader. The reader converts the radio waves reflected back from the RFID tag into digital information that can then be passed on to computers that can make use of it.

    How does an RFID system work?
    An RFID system consists of a tag, which is made up of a microchip with an antenna, and an interrogator or reader with an antenna. The reader sends out electromagnetic waves. The tag antenna is tuned to receive these waves. A passive RFID tag draws power from field created by the reader and uses it to power the microchip’s circuits. The chip then modulates the waves that the tag sends back to the reader and the reader converts the new waves into digital data.
     
  27. jetproppilot

    jetproppilot Turboprop Driver
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    HEY VENT,
    I respectfully nominate this post as "The Top Financial Anesthesia SDN Post of the Year."
    And more importantly, BNMD, a very affectionate (in a heterosexual way) congrats on your first Fathers Day, your hammock, your card from your precious daughter, and your tongs. When it comes right down to it, all the stuff that is "important" to us:money, job, etc, really amounts to the big zero, without family.
    By the way, that letter from your daughter, your hammock, your tongs, and the fact that you are an obviously loving father, are valued at 150 billion, more than Bill Gates total net worth. YOU ARE THE MAN.
     
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  28. DOctorJay

    10+ Year Member

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    this is some good advice but I would like to add to #3. if you go with an INDEX fund you are decreasing risk and removing fees. these funds basically run themselves and are a great place for beginning investors to get involved. I personally have 2 Roth IRAs (1 an index fund and the other a blue chip fund). they basically balance each other depending on market fluctuations. motley fool is a great site to start learning about the basics as well.

    for those still in school receiving loans please consider an ING savings account. you will get the best interest rate possible (3%) and with NO RISK. I take my check each year and whatever's left over from tuition goes directly into my account to make money for me.

    disclaimer: I do not work for any investment firms and have no vested interest in ING.

    happy investing!

    -J
     
  29. kito

    kito Big Evil
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    For your information, Byetta was developed by Lilly in partnership with Amlyn (AMLN). Based on the released study the results look positive, and based on the weekly prescription growth it looks like it has a chance at blockbusterdom.

    There is no medical market like the diabetes market.
     
  30. TomasMay

    TomasMay Membership Revoked
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    I guess it's true about anesthesia and stock market junkies. I love the markets!

    *edited by DrMom: spam*

    How bout VLO? What a great stock! it has a range of like 3 points everyday!
     
  31. supahfresh

    supahfresh un paradis du gangster
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    help me out. is the motley fool just a fake trading website for people with no money? that's perfect for me.
     
  32. OP
    OP
    ThinkFast007

    ThinkFast007 Senior Member
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    man when i first started this thread AMLN was at 18 or 19....


    Mother F#($ i shoulda bought in more....things at 30.73 :mad: :mad:

    my other stock pick now is VXGN.....
     
  33. OP
    OP
    ThinkFast007

    ThinkFast007 Senior Member
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    Disclaimer: I own VXGN

    I've been hung up in the ERAS fiasco recently, needless to say VXGN is doing well from when I first purchased it. Dont ask me why, but they are :laugh:
     
  34. CoffeeFreak

    CoffeeFreak Member
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    Well folks..i have finally discovered the thinking process of MDs & Wall Street....as a former financial advisor I have learned that more here than with the 8 years i spent at a huge wall street firm talking with my clients...you guys amaze me with such innocent talk of the equity markets. Let me know when everyone here is getting consistent 30% yearly returns. Oh, btw, don;t forget about your taxes.
     
  35. CoffeeFreak

    CoffeeFreak Member
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    3% with ING as the best interest rate possible....inflation runs an average of 3% so your getting 0%....good job smarty...take a look at gas prices....consider a closed end bond fund like RSF or RMH that gives you 12-15% returns....and no i am not selling anything....it is just that all you guys have been reading too many prepackaged financial mags like fool.com or even worse Jim Cramer from thestreet.com....all those guys make money from selling you books and garbage.

     
  36. DOctorJay

    10+ Year Member

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    if you read my post I said to put your LOAN money in an ING account, you're not "supposed" to invest government funded loans therefore I PERSONALLY do not recommend that. But you can at least safely get the >3% from ING and not worry about losing your loans and being in trouble with the govt when/if your stocks dive.

    This post was meant for the beginning investor who wants to make more than .1% in their current savings account but isn't ready to jump into the market with the governments' money.

    coffeefreak is obviously not a beginning investor so of course s/he wouldn't subscribe to this plan but for those who have no idea (which is probably 98% of your classmates in medical school) at least they'll be keeping up with inflation.

    by the way is RSF, RMH a guaranteed return?
     
  37. CoffeeFreak

    CoffeeFreak Member
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    well put..i agree with you. Sorry about getting you fired up. Ah shucks, your right RSF & RMH are not guaranteed. :oops: So what happens if ING files chapter 11?
     
  38. DOctorJay

    10+ Year Member

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    FDIC insured!!!

    no worries, i'm sure you have some great tips for us to all learn from given your background so please continue to share!
     
  39. OP
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    ThinkFast007

    ThinkFast007 Senior Member
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    Coffee Freak

    quick q. what are ur thoughts on VXGN. I own it and plan on buying more shares. any thoughts?

    thanks
     
  40. TheSandMan

    TheSandMan Member
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    Intern year is busy, but its sure feels nice to be getting a pay check. Gonna make my first stock purchase this week- just set up an account with scottrade. Not sure what I'm going to go with right now. Thinking maybe pfizer (pfe) and selling as soon as they go up 1$ (which i think they should, since they're pretty close to their lowest level in a while with no good reason I know of to be hurting in the near future)- won't be making big money, but figure with scottrade's 7$ transaction fee, all i got to cover is 14$ (7$ buy and 7$ sell fee) to make a profit. Nice way to get my feet wet.

    Thanks for all the info guys/gals

    investor newbie :thumbup:
     
  41. TheSandMan

    TheSandMan Member
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    ps. I found a geat online bank (fdic insured) recently through reading kiplinger magazine. "emigrantdirect.com". 4% interest coumpounded daily, guaranteed until the end of decemeber. Prior to this they were 3.5%. Kiplinger was recommending both emigrantdiect and ing, but at the time i was looking, emigrantdirect was giving the better deal. not an investment vehicle per se, but good place to put emergency cash- take about 2 days to get your money when needed. Any of you guys/gals have an opinion on kiplingers magazine?

    investor newbie :thumbup:
     
  42. Monty Python

    10+ Year Member

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    My advice, coming from personal experience:

    When I finished anesthesia training in 1995 I had zippo in the bank. On a friend's advice I subscribed to Forbes Magazine, which I HIGHLY recommend to everyone. When I started to bring home a nice paycheck I:

    1. paid off all credit card debt
    2. took out disability insurance
    3. opened up several accounts with Vanguard:

    -- Roth IRA, spread out over several index funds with different investment objectives (deposits are taxable, but all interest and dividends earned are tax-free, as are future withdrawals).

    -- once I'd maxed the annual contribution limit to the Roth IRA, I funded several other Vanguard index funds, each focusing on different objectives (healthcare stocks, overseas stocks, total US stock market, etc etc).

    In the 10 years since 1995, I've sent Vanguard (on average) $20,000 per year. My accounts are presently worth over $500K, even after the stock market went flat 2000-2003, courtesy of reinvested dividends and compound interest.

    My point: invest the lazy way via index funds at a low cost brokerage house (such as Vanguard) instead of actively trading individual stocks, diversify, and let the magic of compound interest work for you. Also, once you invest in a particular vehicle, leave the money alone. Don't try to time the market and don't churn your money around too much, unless you enjoy paying capitol gains taxes.

    Forbes magazine and Vanguard Investments are the best.
     
  43. Hockeyguy

    Hockeyguy Senior Member
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    dude I never give unsolicitated advice but I will here :) . your strategy about buying pfe and hoping they go up a buck is basically gambling not investing. they are in a downtrend so they probably will go down before they go up. before you invest a dime you should go to www.clearstation.com and click on the education link. look into technical analysis. it has worked well for me, not 100%, but nothing is. they are going down for a reason. the outsiders (ie us) may not know why, but the people with real money that move the stock are dumping it. sorry like i said i hate unsolicitated advice but to learn your lesson in the stock market you ussually lose money but it doesn't have to be that way. im me for any other info or to tell me to f' off. i have three passions, 1. hockey 2. technical analysis of the market(s) and a very distant 3. is medicine. good luck man and if you want to talk more let me know
     
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  44. Hockeyguy

    Hockeyguy Senior Member
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    great advice. especially if you don't want to spend a good deal of your time screwing around on the computer. i happen to love it but in the end you will probably make more than I ever will in the market!
     
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  45. chinochulo

    chinochulo Member
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    I pay my credit card bills in full every month. I have an ING account, Fidelity mutual fund, and hold ERTS (Electronic Arts) and AAPL (Apple) in my Roth. I am a strong believer in buying equity from companies which produce objects I would personally use, ie video games (big future in playstation and Xbox) and iPod. ERTS has doubled my Roth money, and Apple isn't doing too badly either.
     
  46. Hockeyguy

    Hockeyguy Senior Member
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    PFE is down 8% on the open today - not picking on you sandman trust me i made the same mistakes when i first got into the market- in fact after reading your post i loooked at the chart saw what a strong downtrend this stock (pfe) was in and shorted 10k dollars of it. In ten days, thats about a 12% or 1200 dollar return. The key is to use technical analysis. The insiders, mutual fund owners, executives and the like, know whats happeneing with the comapny technical analysis lets us see what they are doing and then we can join the fun. They even trumped up some story about lipitor and how great it was and some irrelevant court case blah blah just to pump the stock and dump it a few days ago, it was a smokescreen. Why didn't they warn about profits sinking 55% - they knew that at the time? Because they wanted to offload their stock. Anyway I hate to be "that guy" I don't want to be right - I want us all to be rich! LEARN TECHNICAL ANALYSIS! If you want to talk about or learn more I would love to teach what I know or just talk stocks with anyone. Then when we get real crazy around here we'll talk about e-mini futures - thats where we'll get filthy rich or go broke trying :laugh: But seriously its the 90/10 rule in the market. 90% of the people are making 10% of the people rich. I am no Gordan Gecko (see Wall Street) but I have slowly become one of the 10% through a lot of hard work and mistakes - hopefully anyone who wants to "be in the market" will get there faster. And as far as magazines like Money and Kiplingers - they make good toilet paper, bassically these rags are advertisments for bloated mutual funds.

    http://clearstation.etrade.com/education/cover.shtml

    http://www.marketwatch.com/news/sto...s&guid={05ACA1AF-A9F9-44BA-9A3C-4D729FC1DEBB}

    Mario Carmosino
     
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  47. zippy2u

    zippy2u Senior Member
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    Zip will suggest one stock that you need to look into... OSUR It will, in all probability, soon obtain FDA approval to sell oral swab HIV detection kits in stores like Walgreens and Walmart. Also involved in oral swab detection of recreational drugs. I was in at around 8 and now it is in the high 11s. Happy investing ---Zip
     
  48. The White Coat Investor

    The White Coat Investor Practicing Doc and Blogger
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    Don't do it. I can't believe what I'm hearing in here. You guys might as well go to the Strip, plunk down 3 grand on the roulette table. You've got as much a chance to make money there as to pick the right stock. You read the medical literature, but you don't read the financial literature. Nobody out there has consistently shown they can pick stocks successfully over a career. (Warren Buffet excluded. He cheats by buying the whole damn company, something none of us can do.) So what makes you blokes think you can do it on the side while working 80 hours a week? Simplify your life. Read a few financial planning/investing books, open up an account at Vanguard, buy Total Stock Market Index Fund and Total International Stock Market Index Fund, and maybe diversify a bit with a microcap index fund, a bond index fund, or a REIT. Over the long term you'll do better and you'll have a lot more time to do the things you enjoy.

    Somebody higher in the thread said index funds are for newbies. The fact is, those who know how to keep score are in the indexes. I quit trying to beat the market a long time ago.

    A few good financial books for newbies (and the rest of us as well):
    Personal Finance for Dummies
    The Only Investment Guide You'll Ever Need
    The Four Pillars of Investing
    Common Sense On Mutual Funds
    Get Rich Slowly

    Remember.... most professionals can't pick winning stocks using 60 hours a week. Most mutual funds don't beat the market index they track over even short investment horizons (3-5 years) and there's no way you can pick the ones that do beforehand. Therefore, by tracking the index you beat most mutual funds without any effort. Investing is much more simple than Jim Cramer, the Motley Fools, and anyone selling you "financial services" would have you believe.
     
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  49. Hockeyguy

    Hockeyguy Senior Member
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    Its freaky did you read my posts that follow. PFE stock got hammered! You should also be versed in technical analysis. And if your bauying any mutual fund that isn't an index fund you are making someone else very rich.
     
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  50. TheSandMan

    TheSandMan Member
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    yeah, thanks for the words of wisdom guys/gals, especially hockey guy. ended up holding off on investing in pfizer and see i would have taken a beat'n on them!
    i'll probably hold off on individual stocks a while longer while i keep going with roth ira's in vanguard mutual funds and keep working at paying off a 8% med school loan i have.
    on a side note, took out a couple of 12month 0% (with no transfer fee) credit card balance transfers to pay off the rest of the 8% med school loan. i know its risky (one late bill and interest rates go through the roof), but right now am using a free online bill pay through my bank which makes staying on top of bills easier.

    investor newbie :thumbup: -though a little more on the humbler side now
     

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