Today’s guest is Chris Clark. Chris was a biotech PM for 10 years at RS Investments, managing $4.5 billion.
In today’s episode, Chris discusses the complexities of the biotech sector, which has suffered a dramatic drawdown the past few years. He begins by explaining how biotech works, why it’s such a unique sector, and what has kept investors and companies frozen the past few years. He also explains the different perspectives of venture capitalists and public market investors, the current regulatory environment and how AI may reshape drug development.
(0:00) Starts
(1:20) Biotech industry overview
(18:09) Can you be a quant in biotech?
(25:09) Biotech market cap distribution and benchmark underweighting
(34:47) Addressing biotech volatility, market outlook, and non-pro investing tips
(47:02) Private vs. public biotech investments
(1:01:32) Global biotech markets (China)
(1:09:48) AI and regulatory impact on biotech
(1:21:14) US healthcare spending
(1:33:48) Chris' most memorable investment
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Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.
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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
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