Monday, August 20, 2012

Is your doctor exposed to the European currency crisis?

Sure  hope not. You wouldn't want her distracted with bad thoughts about her huge bet against the Euro while she's leading that team on your triple by-pass.

Seems that the Supreme Court's decision in favor of Obamacare has unleashed some good old market forces. Health care insurers are out-bidding one another to gobble up their rivals, because everybody understands that what Obamacare really amounts to is a bottomless subsidy of profits for the health care industry.

Since the court decision you've seen Cigna  take over Healthspring, Wellpoint take over Amerigroup, and most recently Aetna's buyout of Coventry. Billions of investment dollars are jostling for position at the Obamacare trough. Kind of ironic when you reflect on the fact that the American  health care system is the most expensive in the world but has outcomes that are hard-pressed to rival those of Cuba.

Indeed, hedge-fund sharpie David Einhorn made his crew a cool 66 million or so in a matter of months by taking a long position in Coventry. Here's what Einhorn said at the time they placed their bet;

Coventry has no exposure to the European currency crisis, a possible Chinese slowdown, or other cyclical headwinds.

What the fuck is that? Are we talking about my triple by-pass or something else?

Obamacare. It's all about the money.

Wall Street loves it!

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