Posts by Manager

This past week, Biogen, a leading biotech firm, was granted approval for its controversial Alzheimer’s drug, Aduhelm, by the FDA.  Controversial because the efficacy of the drug was very much in question coming out of its Phase 3 trials.  Nonetheless, the FDA approved the drug based on its ability to remove a certain form of…

The last six months have been a frustrating time for growth investors.  Particularly those investors focused on emerging secular themes- new biotech developments, mRNA technologies, gene editing/therapies, gene sequencing, block chain technologies, AI (artificial intelligence), cloud infrastructure, the shift to EV/autonomous driving, and the like.   Not only have the securities of these firms lagged the…

Last week we speculated that after several months of consolidation and correction, growth stocks may well have been closer to a bottom than a top.  A number of developments this week may give credence to this idea. Have these stocks found a near term bottom? Is the coast clear for investors? Remember that investor enthusiasm…

After consolidating and correcting for about five months growth stocks feel closer to a bottom than a top.  Characterized by the stay-at-home trade, those firms that allowed for the infrastructure and lifestyles that permitted work away from offices have given way to a re-opening trade that would benefit firms positioned for renewed economic activity centered…

We are entering a golden age in healthcare.  Applying modern technologies to procedures, device development, and drug discovery will lead to cures and outcomes heretofore unimaginable.  Diseases long thought to be absolute death sentences will be conquered, quality of life for patients will improve, and lifespans, most likely will lengthen.  Leading the charge will be…

“My operating assumption is that policymakers are rapidly figuring out that the “burn down the village to save the village” strategy of sacrificing the economy to prevent the spread of the virus won’t work much longer.  I already detect a change in sentiment in this regard.  I would watch the clinical trial that is about…

The Fed couldn’t do it. Impeachment couldn’t do it. The tariff wars couldn’t do it. Even earnings couldn’t do it. What did it? Fears of a global pandemic over the Chinese originated coronavirus and its anticipated impact on growth prospects in China and around the world. And what is the it? A long-awaited market correction.…

January 9, 2020 Accounts managed by Hangar 4 Partners LLC Eagle I, L.P. ended the both December quarter and full year strongly (if you’d like our actual performance data please call).   The S&P 500 Index and the Nasdaq Composite were up about 8.5% and 12.2% for the quarter and 29% and 35%, respectively for…

Investment Commentary- Good Riddance to the Month of May!! Most of the investing community, having expected a deal between the US and China to end their trade dispute, are sorely disappointed to this point. Not only has a deal not surfaced, but the trade tensions and rhetoric have escalated. This in turn has resulted a…