Julian Robertson: Biotech Stocks Are Cheap

The video discusses the challenges of investing without knowing the risk-free rate or stability in fixed income. It suggests that many great companies are undervalued, presenting opportunities in biotechnology and tech sectors. Companies like Celgene, Google, and Microsoft are highlighted as reasonably priced investments.

What is a major challenge in investment when the risk-free rate is unknown?

• Predicting stock market trends

• Determining the operative theory

• Calculating company valuations

• Assessing political impacts

How has the fear of Mrs. Clinton affected the biotechnology sector?

• Created bargains in biotechnology stocks

• Decreased investment opportunities

• Stabilized the market

• Increased stock prices

Which company is mentioned as being reasonably priced due to political factors?

• Amazon

• Celgene

• Google

• Microsoft

What is a common characteristic of companies like Google and Microsoft according to the transcript?

• Overvalued in the market

• Limited growth potential

• Available at reasonable multiples

• High risk investments

Which of the following is NOT mentioned as a great company in the transcript?

• Celgene

• Microsoft

• Google

• Apple