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Why I'm Closing Illumina for Now

Posted on July 03, 2009

I only have about a 0.4% stake in Illumina (ILMN), so I am going to take about a 8% loss on this last batch (stock is down about 10%) on the earnings warning. The stock had just been flopping around listlessly, so it was not a major position for us, thankfully.A large gap has been created which is going to take time to work through and time is money. It's not exactly a value buyers dream down here either as it is still rich.... valuations like this are based on continued excellence in execution and ILMN's armor has been penetrated from that angle. The stock is down a lot less than in after h...

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