As Turing & Valeant Cast A Negative Shadow, Larry Robbins FumesMark Melin
While the healthcare sector has experienced a setback recently, having “become short-term auto-correlated to the downside,” Hedge Fund titan Larry Robbins of Glenview Capital frets about the recent problems that have befallen the healthcare sector, which has been especially hard hit during the recent market downturn. Using uncommonly strong language in an investor letter, he appeared to cast a dubious eye towards quick to profit pharmaceutical firms who have raised prices so egregiously that it caused a harsh political focus to taint an entire industry. In an investor letter reviewed by ValueWalk, he also cast a wary eye on the accounting and business practices of a "high-profile consolidator" in the pharmaceutical sector.
Nonetheless Robbins thinks his investment theses regarding the overall healthcare sector is positive and his correlation strategy of using different sub-categories within the industry remains valid going forward.
Larry Robbins appears to target Martin Shkreli as healthcare stocks plummet amid political controversy.
As previously reported in ValueWalk, Larry Robbins has experienced a “disappointing” results over the past three months. While most stocks suffered from late August to September, one sector has particularly been hard hit. The healthcare equity exposure maintained inside the Glenview portfolio suffered punitive losses as many of the stock sub categories correlated to one during the stock market turbulence experienced earlier this year.
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