In today's edition of the Daily Update, managing editor Michael Hickins
reports on the investment community's love affair with biotechnology,
the modern-day version of the Fountain of Youth, and explains why there
is some reason for hope--at least from an investment perspective. On the
other hand, equity research columnist Dave Sterman discusses the sense
of dj vu he feels when looking at the prices of certain Internet stocks.
Fool me once, shame on you; fool me twice, shame on me.

In line with our biotech theme, we suggest you check out Morgan
Stanley's recent report on ImClone Systems (IMCL) by registering for
the firm's free research trial. You can do so by scrolling down to the Free
Reports section of our newsletter or simply clicking on the link below
and then going to the Morgan Stanley logo on our Web site.

You can link directly to our research page, which features synopses
of broker and free reports, by clicking here:
http://www.multexinvestor.com/article.asp?docid=6139&nd=0122

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Below
--------

- Investment ideas
- Broker and third-party research
- Online advice and chats
- Free and sponsored reports


Investment ideas
-----------------------------------------

1. INVESTMENT IDEAS
Sucker's rally
Fool you twice, shame on you

By Dave Sterman, equity research analyst

In recent months, investors have returned to their speculative ways,
bidding up share prices in companies that still face challenging outlooks
to say the least. With signs emerging that the economic recovery will be
tepid at best, these investors may want to proceed with caution. Indeed,
some of the biggest gainers in recent months may be the most vulnerable
to a pullback, especially those for which the company-specific outlook
has yet to brighten.
Click here to read more.
http://www.multexinvestor.com/article.asp?docid=6119&nd=0122


2. INVESTMENT IDEAS
Biotech rules
Biotechnology stocks point investors to a holy grail

By Michael Hickins, managing editor

On one level, it makes perfect sense for investors and analysts to favor
biotechnology stocks as much as they do: everyone wants to live forever,
and in relative physical comfort. Biotechnology offers the promise of a
rational (as opposed to mythical) Fountain of Youth, a picture of Dorian
Gray that never ages.

Moreover, biotechnology offers the potential to generate immortal
returns. Indeed, historical returns for the sector have been very
encouraging. According to analysts at U.S. Warburg, the industry has
been able to grow its collective top line by 18 percent since 1996. And
during the past 20-plus years, also according to the firm, the industry has
produced more than 100 drugs (using a wide definition of "biotech
drug"), "that currently generate annual revenues of roughly $12.5
billion."
Click here to read more.
http://www.multexinvestor.com/article.asp?docid=6147&nd=0122


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Broker and third-party reports
-----------------------------------------


1. INVESTORS' CHOICE: 3-DAY FAVORITE
The 451 discusses Cisco's (CSCO) new focus on the mobile wireless
market.

This report examines IP infrastructure spending, the next-gen
Internet and network architecture layers, Cisco's strategic
alliances and mobile business customer targets, and advanced e-
services and content applications. (2-page report for purchase -
$5)
http://www.multexinvestor.com/download.asp?docid=5676705&nd=0122


2. TODAY'S SPECIAL REPORT
SunTrust Robinson Humphrey explains why it sees a 2002 rebound in e-
business software stocks.

In the report, a 2001 review, predicted product and sales trends in 2002
as well as top stock picks, analysis of software segments, and individual
notes on 13 stocks including Oracle (ORCL), Siebel (SEBL), and
PeopleSoft (PSFT). (60-page report for purchase - $100)
http://www.multexinvestor.com/download.asp?docid=25938120&nd=0122


3. EDITOR'S PICK: CURRENT RESEARCH FROM THE CUTTING EDGE
Lehman Brothers explains its Price Earnings Excess Return model and
sector outperformers in 2002.

Lehman identifies 6 sectors that its quantitative model predicts will
outperform in 2002. It reviews the model's long-term and 2001
performance, identifies 25 stocks in its U.S. strategy portfolio and 25 in
its virtual economy portfolio. (7-page report for purchase - $25)
http://www.multexinvestor.com/download.asp?docid=25991689&nd=0122


4. THIRD-PARTY REVIEW
Firemark Investments discusses the multi-line and life/health insurance
industry.

The firm reviews 2001, with analysis of the economy, capital markets,
equities, & fixed-income, then details the outlook for the insurance
industry, with a final investment summary. 7 pages of graphs/charts &
illustrative data. (18-page report for purchase - $50)
http://www.multexinvestor.com/download.asp?docid=26016921&nd=0122


5. WHAT'S HOT?
Brean, Murray & Co. reports on online holiday shopping trends in 2001.

The firm discusses improving data in several online shopping metrics.
The report looks at total sales, increasing numbers of shoppers, order
size, user demographics, growth categories, & 4 well-positioned
companies. 3 exhibits. (2-page report for purchase - $10)
http://www.multexinvestor.com/download.asp?docid=25967718&nd=0122


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strategies: http://www.multexinvestor.com/Analysts/HomeTTA.asp

To be sure you receive your TTA newsletter every week, click here:
http://www.multexinvestor.com/login.asp
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Online advice and chats
-----------------------------------------


1. ASK THE ANALYST
Extended one day! PowerOptionsPlus.com's Victor Schiller discusses
how to insure your equity investments.

Schiller explains how option collars provide downside protection on
stock purchases. Most individuals wouldn't drive without auto insurance-
-can you afford to invest without stock insurance? Ask him questions on
this subject through tonight, Tue., Jan. 22, 5 PM ET.
http://www.multexinvestor.com/AskTheAnalystForm.asp?&nd=0122

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2. ASK THE EXPERT
Multex.com's Alan Cohn explains some of the ways
Americans will benefit from new tax laws.

Citing aspects of new tax rules relating to individuals
over 50, education, and estate taxes, Cohn shows
how a wide range of citizens will benefit. How do the
new laws affect you? He can take your questions
until Thurs., Jan. 24. Ask the expert.
http://www.multexinvestor.com/AskTheExpertForm.asp?&nd=0122



Free and sponsored reports
-----------------------------------------


1. FREE RESEARCH REPORT
Friedman, Billings, Ramsey previews Q4 earnings and provides
semiconductor sector commentary.

FBR discusses its chip-universe which includes Applied Micro (AMCC),
Broadcom (BRCM), Conexant (CNXT), LSI Logic (LSI), PMC-Sierra
(PMCS), TranSwitch (TXCC), and others. This 22-page report, which
usually sells for $75, is free to members for the next 72 hours.
http://www.multexinvestor.com/download.asp?docid=26007793&nd=0122


2. DAILY FREE SPONSOR REPORT
Morgan Stanley sets a $60 price target on biotechnology firm ImClone
Systems (IMCL).

The firm argues that IMCL "is poised to become one of the next
commercial success stories in biotechnology," reviews the approvals
outlook for its "impressive" new oncology therapeutic solution, Erbutix,
and outlines key investment strengths and risks. Register for the firm's
free-research trial to access research on this and other stocks.
http://www.multexinvestor.com/download.asp?docid=25686797&sid=8&nd=0122


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Be sure to check out our other newsletters, The Internet Analyst
and The Telecomm Analyst by Multex.com. The newsletters will
inform, educate, and entertain you with usable investment data,
ideas, experts, and info about the Internet and telecommunications
sectors. To see this week's issue,
click here:
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