New Cancer Therapies Offer Big Upside in These Stocks, says Wealth Advisor’s Chris Friedmann

New Cancer Therapies Offer Big Upside in These Stocks, says Wealth Advisor’s Chris Friedmann
Chris Friedmann, Editor – Wealth Advisor
Investors aren’t getting any younger, which is why Chris Friedmann from the Wealth Advisor has widened his focus from pure fintech plays like Envestnet (NYSE: ENV) and Assetmark (NYSE: AMK) to the burgeoning world of early-stage biotech. After all, in a world where Warren Buffett still goes into the office every day at age 90, the rich will throw staggering amounts of cash at any company with a good shot at extending their lifespan, health and working time. In effect, they’re investing for themselves as well as their portfolios.
And the portfolio returns can be considerable. Friedmann has extremely high conviction that the rise of personalized medicine makes room at the table for multiple drug developers to each grab a satisfying piece of the market. In oncology, for example, he sees Bristol-Myers Squibb (NYSE: BMY) and Eli Lilly (NYSE: LLY) and Merck (NYSE: MRK) sharing the lung cancer market.
Look at what’s happened in breast cancer, he says, comparing DNA therapy to the way disruptive startups like UniQure (NASDAQ: QURE) can get traction by picking the right gene. Let the drug price debate rave on. He isn’t worried one bit.
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