bluebird bio (BLUE) tops the list of the 30-odd stocks we at Avisol consider suspiciously highly valued, now that Kite Pharma (KITE) has been spoken for. We define these stocks as “multibillion market cap stocks with no product in the market.” Some of these may actually be overvalued, so this list is a good place to look for short candidates. Some others may have such pioneering research that the market already values them for what they may develop in the future. That is risky for investors, doubtless, and that also creates a high entry point for new investors. Nevertheless, some of these, like we saw with Kite, are good buyout candidates, especially after Gilead’s (GILD) foray into oncology proper.