How not to analyze biotech, pt 123 (sub):
"...Don't look now, but after powering a biotech stock mania that imploded four years ago, the largely discredited business of "genomics" is back."
1) Start with a fundamental misunderstanding of the science. In this case, that genome discovery = massive therapeutic profits immediately.
2) Hype the analysis.
3) When the bubble bursts, declare the technology 'discredited'.
What's important has always been important: the cost of sequencing and the resulting ability to efficiently translate genome into proteome.