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Biotech / Medical : Oxford Health Plan (OXHP)
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To: robt justine who wrote (696)1/1/1998 11:14:00 AM
From: Michael Burry  Read Replies (1) of 2068
 
Robt,

You're just taking things out of context. Of course absolute profits
matter, but if you look between the lines they are only making an
operating profit of 18 million or so this quarter - and the balance
sheet is still deteriorating so at least free cash flow
isn't there yet.

When you are talking liquidity crisis, I would hope that you'd be concerned with
total profit. At least cash flow.

In my original "numbers analysis" back in early December,
the operating profit is included in there. Once again, this is
not something I've ignored.

So when someone says 10% premium increases will solve the problem then
it is entirely valid to point out that if the premiums change
is matched by claims change then there is no true gain
from the premiums increase - the premiums increase is a zero sum move.

Threads on SI are filled with people plucking words
out of context for the sake of argument. Why start that
here?

Mike
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