Someone asked me to post this via e-mail (don't know
why he's not doing it):
Yesterday, the Chinese TV program in New York City reported that Oxford opened on the day a new branch in Chinatown (downtown Manhattan, one mile away from Wall Street). I went to the Oxford branch office today and found out that it did not open a
new one but they are expanding. That little mistake (new opening/expansion) might be made by the TV reporter, and the step by Oxford might not be directed to Wall Street albeit the close location--the news was only broadcasted in Chinese. There are about 200,000 Chinese living in NYC, many of them don't speak English. Oxford has not only Chinese-speaking phone line, but has a network of 200 Chinese-speaking doctors in the NY-NJ-CT tristate area. New Jersey also has a large Chinese population. Oxford has been the only one of the major HMOs to set up local offices to serve the Chinese in NYC. This makes me to recall the news about its Florida growth plan. They may very well target other non-English-speaking ethnic groups,
especially the Hispanics. For me this is a bold action with a longterm
strategic plan in mind, and very professional, and will be rewarded
decently. I also talked with a rep in the office about the turmoil. She was laughing when I mentioned that some worried Oxford could go bankrupt, as if she were listening to a story just for fun. Meanwhile, Oxford continues running an Ad in this Chinese TV program. The Ad scene: a Chinese-speaking Oxford rep telling a patient over the phone that she is referring him to a doctor in his neighborhood who speaks Chinese.
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I would add that when I was researching my story they were laughing
at the fact that they would have to set aside even more reserves.
And I still stick by my "numbers" analysis that says we could
be in for some serious financial trouble with just a few
more hits to the balance sheet.
Actually, I feel Thomas and Andreas and the mailman are having
a much more civil discussion than most threads would have given
the circumstances. From what I see, lawsuits and bankruptcy
should indeed be discussed here, as should the pluses like
you suggest. The story is not all bad, but the risk-tolerance
necessary to invest has gone up considerably.
Good Investing,
Michael Burry |
