Got some Gilead

Phase 2 of my rotation into biotech. is complete. I sold Qualcomm at breakeven and bought some Gilead (GILD) at $72. I now just need to get a good exit price for Google and then I can buy into Genentech and Amgen.

It would be great if I could invest in some large British biotech. companies but there do not seem to be any! There are the two pharmaceutical giants - GlaxoSmithKline and AstraZeneca but these are not growth stocks. Then there is Shire which I guess does qualify as a Biotech but its price is inflated because of bid speculation. Growth is only in the low teens anyway.

The are also some small pre-sales biotechs like Alizyme but I am not a fan of these sorts of companies. They are almost impossible to value and the share count is constantly diluted as they seek further funding.

So that leaves the American options. Which means I have to be exposed to the US Dollar. But even when UK interest rates were up at 14% the dollar did not weaken below 2.2 dollars to the pound so on a historical basis it should not get much weaker. I am willing to risk it based on the fantastic fundamentals of the likes of DNA, GILD and GENZ.