A Fund Gambles On Obamacare And Wins

Glenview Capital Management is a hedge-fund founded in 2000 by Larry Robbins, whom the Wall Street Journal describes as a “billionaire hockey fanatic.” According to a new report in the Journal (online, 7/23) by David Benoit, Mr. Robbins apparently has knack for spotting trends early, especially when it comes to healthcare and its related, needed insurance coverage. Back when President Barack Obama was unveiling the concepts of healthcare overhaul, Robbins and his fund began gobbling up shares of stock in health insurers. It turned out to be “too early” according Benoit’s Wall Street Journal article.

While Robbins and Glenview suffered their share of losses as a result of the 2008 financial meltdown, Robbins started making “investments in hospitals and insurers four years ago,” and the result “has been one of the most successful hedge-fund wagers in recent years,” adds Benoit.   

Read more at The Wall Street Journal