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Strategies & Market Trends : Value Investing

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To: Freedom Fighter who wrote (10112)	3/3/2000 6:21:00 PM
From: Michael Burry	Read Replies (2) of 78750

I'm getting a whiff the healthcare sector is turning a bit. WellPoint (one of my favorite, best managed HMOs) partners with ING to offer to buyout Aetna. Then Manor Care, the best-run nursing home operator, gets takeover activity news. Several stocks have made good technical moves. I just sold my two favorite healthcare stocks - SNH and HRC. Bought back HRC today as it jumped on large volume. Certainly felt like eating crow, but there was no other conclusion than to buy into this stock. SNH didn't move hardly at all. I'd like to get back into that too. Frustrated that I just sold. This is one of those cases where maybe a depressed sector is turning and it would be a good time for solid and timely buys. One thing to consider about HRC is that intranet and internet-based purchasing/vendor activity should eventually lead to higher margins. Mike

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