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Jeffrey M. Solomon, President, Cowen Group Inc (NASDAQ: COWN) and Chief Executive Officer, Cowen and Company, was on Wall Street Week this Sunday to talk about the outlook of the biotech space overall. Here is what he said.
Biotech & Reindustrialization Of America
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On whether he still sees healthcare and biotech still as an emerging growth opportunity, Solomon said, "Certainly, two themes we play pretty consistently is growth and healthcare, biotech is a big part of that. We actually think that there have been a number of companies that have come public, raised a lot of capital. There's really tremendous growth in that area still as we get into personalized medicine and the consumerization of healthcare is a big theme for us at Cowen."
He continued, "We also happen to think that the reindustrialization of America is a big theme and so we are focussing on areas that will benefit from the capital flows in the United States and consistent long-term growth over the next decade."
Government's Focus Hasn't Had Much Impact
Solomon was asked if the government's increasing focus on healthcare has had any impact on the capital flows in the space. He replied, "It hasn't really. So, I think, if you take a 20-year view the coonsumerization of healthcare is something that started way before Obamacare. There will be winners and losers and honestly there will definitely be losers and there will definitely be winners, which is kind of [what] we focus on it. You can't just own healthcare broadly and say it's going to work out."
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.