Made a $50k bet on Healthcare

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Gambler
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Made a $50k bet on Healthcare

Post by Gambler »

Have $100k in after tax $ in S&P 500.

Not going to rehash everything.
my background and thread asking about speculating on sectors based on underperformance:
http://www.bogleheads.org/forum/viewtop ... 1&t=129950

that thread gave me a new idea.
instead of trying to catch a falling knife, i'm going to ride the wave.

from vanguards etf list:
Consumer Discretionary, healthcare, and Industrials were #1,2, and 3 for 2013.

sold 50k of the S&P500 fund and bought Healthcare. it's up YTD compared to the other 2.

Going to leave the other $50k in the S&P500 (for now :wink: )
"Always be thankful for what you have no matter how much or how little" -EternalOptimist
livesoft
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Re: Made a $50k bet on Healthcare

Post by livesoft »

But, but, but, …

I explicitly recommended that you buy VWO which went up about 2% yesterday.
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linuxizer
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Re: Made a $50k bet on Healthcare

Post by linuxizer »

Total health spending is on the decline, and healthcare jobs actually went down this month for the first time in a long, long time.

Already priced in, of course, but entirely possible we were at the peak of a long secular inverted U-shaped healthcare spending trend. And that's before the PPACA's Medicare spending cuts (they're not crude cuts but rather efficiency-driven, but still will cut the total amount of $ unless Congress intervenes, which they've been ever-more reluctant to do with the doc fix).

In other words, why do you think you know more than the market?
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Re: Made a $50k bet on Healthcare

Post by linuxizer »

livesoft wrote:But, but, but, …

I explicitly recommended that you buy VWO which went up about 2% yesterday.
Phew. VWO purchase (5% according to the IPS) cleared two days ago. That'll net me at least another $10. :shock:
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Re: Made a $50k bet on Healthcare

Post by Gambler »

livesoft wrote:But, but, but, …

I explicitly recommended that you buy VWO which went up about 2% yesterday.
Em and Reits are the 2 sectors that I was contemplating in my link.
chickened out after reading all the comments.

and of course both em (VWO) and reits (vnq) are way up this year compared to the rest of the market. :oops:

you still like vwo at the current price?
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Texas hold em71
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Re: Made a $50k bet on Healthcare

Post by Texas hold em71 »

Have you read any healthcare industry publications in the last four years? No one in the industry is exactly bullish. Massive restructuring and repricing is occurring. There will be winners and losers. How do you know which ones you are buying? I guess if you have $50,000 to gamble with, it could be exciting- if you enjoy that kind of thing.
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Re: Made a $50k bet on Healthcare

Post by livesoft »

Gambler wrote:you still like vwo at the current price?
Of course not. Buy on the RBD.

I will probably sell my recent purchase if it goes up more since that purchase made me slightly overweighted in EM and my IPS calls for rebalancing at specific rebalancing bands.
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Re: Made a $50k bet on Healthcare

Post by Toons »

I have held a Healthcare sector fund for about twenty years now and as I have observed over time all sectors fall in and out of favor,the last year or so reminds me of the healthcare outperformance of the early nineties,who knows what sector will be in favor this year,,,buy and hold hold hold is so important :happy
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Re: Made a $50k bet on Healthcare

Post by nisiprius »

Gambler wrote:...that thread gave me a new idea. instead of trying to catch a falling knife, i'm going to ride the wave....
Do what you like, but I am going to warn you seriously about the danger of slogans. Specifically, the danger of maintaining some little private stock of maxims and slogans, all mutually contradictory, that you can use in place of thought--a nice little baby rattle you can hand to your left brain to play with to distract it from what the right brain is doing...

Every time you find yourself "thinking" something like "I'm going to ride the wave" you should stop yourself and say, "Hey! That's not thinking." You call it an "idea:" It is not an "idea."

It's just too easy to find a slogan to confirm anything you feel like doing.

Want to sell something that's falling? "Don't fight the market." "Don't try to catch a falling knife." "Don't double down on your bad bets." "Cut your losses and let your profits run."

Want to buy something that's falling? "Buy low, sell high." "Don't you like to buy things when they are on sale?" "This is 'value investing.'" "It's opportunistic rebalancing."

Want to sell something that's rising? "Buy low, sell high." "Nobody ever went broke taking a profit." "I think I'll take something off the table." "What goes up must come down."

Want to buy something that's rising? "Cut your losses and let your profits run." "You're playing with house money now." "The trend is your friend." "This is 'momentum investing.'"

Beware of the comfort factor of fitting whatever you are doing with a nice, wise-sounding, confirmatory slogan.

(By the way... I dunno if all brokers do it or if they still do it... ages ago, I eventually cottoned on that what my Merrill Lynch broker was doing was using this sort of slogan to induce confirmation bias and reward me by saying I was smart, whatever I did--as long as I did something. If I didn't make any trades he would pester me with things designed to induce greed or fear. If I engaged in conversation, he would sort of provide alternatives I could choose from, flattering me by asking my opinion on what I thought was going to happen... and then, whatever I seemed to be leaning toward doing, he would encourage me by fitting it to some confirmatory slogan, like "why not? you're playing with house money now.")
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Re: Made a $50k bet on Healthcare

Post by Calm Man »

I think OP is messing around and not really doing any of this. It is just too arbitrary and the screen name is a bit of a tipoff.
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Re: Made a $50k bet on Healthcare

Post by InvestorNewb »

Personally I think Healthcare is a pretty safe bet. There are a lot of boomers retiring who will have increasing needs.

I don't understand why more people don't tilt toward this sector; the fund isn't mentioned that much around here.
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Re: Made a $50k bet on Healthcare

Post by Sbashore »

InvestorNewb wrote:Personally I think Healthcare is a pretty safe bet. There are a lot of boomers retiring who will have increasing needs.

I don't understand why more people don't tilt toward this sector; the fund isn't mentioned that much around here.
I think "pretty safe bet" is an oxymoron.
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Re: Made a $50k bet on Healthcare

Post by bobbun »

livesoft wrote:
Gambler wrote:you still like vwo at the current price?
Of course not. Buy on the RBD.

I will probably sell my recent purchase if it goes up more since that purchase made me slightly overweighted in EM and my IPS calls for rebalancing at specific rebalancing bands.
Hmmm. I think I only agree with this one for your personal decision, Livesoft. For Gambler, he should logically buy VWO at the current market price, assuming that he reforms his ways and decides to hold for the long term (an important caveat).

As I read it, Gambler's current portfolio is 50% S&P 500, 50% VHT. That portfolio needs significant more fixing than just this one thing, but let's consider the one change of selling a small amount of either (preferably VHT) and buying VWO instead. This would increase the diversification of his portfolio. That's a net positive, even if it's not anywhere close to what he could achieve though better choices in his investments. If his holding period is long enough, then today's known market price is as good as waiting around for some future lower market price that may never come.
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Re: Made a $50k bet on Healthcare

Post by Gambler »

livesoft wrote:
Gambler wrote:you still like vwo at the current price?
Of course not. Buy on the RBD.

I will probably sell my recent purchase if it goes up more since that purchase made me slightly overweighted in EM and my IPS calls for rebalancing at specific rebalancing bands.
rbd= really bad day?
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Re: Made a $50k bet on Healthcare

Post by Gambler »

bobbun wrote:
livesoft wrote:
Gambler wrote:you still like vwo at the current price?
Of course not. Buy on the RBD.

I will probably sell my recent purchase if it goes up more since that purchase made me slightly overweighted in EM and my IPS calls for rebalancing at specific rebalancing bands.
Hmmm. I think I only agree with this one for your personal decision, Livesoft. For Gambler, he should logically buy VWO at the current market price, assuming that he reforms his ways and decides to hold for the long term (an important caveat).

As I read it, Gambler's current portfolio is 50% S&P 500, 50% VHT. That portfolio needs significant more fixing than just this one thing, but let's consider the one change of selling a small amount of either (preferably VHT) and buying VWO instead. This would increase the diversification of his portfolio. That's a net positive, even if it's not anywhere close to what he could achieve though better choices in his investments. If his holding period is long enough, then today's known market price is as good as waiting around for some future lower market price that may never come.
this 100k is after tax $.
read the link in my OP. it lists my AA in my retirement accts
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Re: Made a $50k bet on Healthcare

Post by bobbun »

Gambler wrote: this 100k is after tax $.
read the link in my OP. it lists my AA in my retirement accts
It's good to hear you're not doing this with your entire portfolio. I overlooked that. The same logic applies, though, just not quite to such an extreme degree. Your taxable investments are still part of your asset allocation.
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Re: Made a $50k bet on Healthcare

Post by Bfwolf »

nisiprius wrote:
Gambler wrote:...that thread gave me a new idea. instead of trying to catch a falling knife, i'm going to ride the wave....
Do what you like, but I am going to warn you seriously about the danger of slogans. Specifically, the danger of maintaining some little private stock of maxims and slogans, all mutually contradictory, that you can use in place of thought--a nice little baby rattle you can hand to your left brain to play with to distract it from what the right brain is doing...

Every time you find yourself "thinking" something like "I'm going to ride the wave" you should stop yourself and say, "Hey! That's not thinking." You call it an "idea:" It is not an "idea."

It's just too easy to find a slogan to confirm anything you feel like doing.

Want to sell something that's falling? "Don't fight the market." "Don't try to catch a falling knife." "Don't double down on your bad bets." "Cut your losses and let your profits run."

Want to buy something that's falling? "Buy low, sell high." "Don't you like to buy things when they are on sale?" "This is 'value investing.'" "It's opportunistic rebalancing."

Want to sell something that's rising? "Buy low, sell high." "Nobody ever went broke taking a profit." "I think I'll take something off the table." "What goes up must come down."

Want to buy something that's rising? "Cut your losses and let your profits run." "You're playing with house money now." "The trend is your friend." "This is 'momentum investing.'"

Beware of the comfort factor of fitting whatever you are doing with a nice, wise-sounding, confirmatory slogan.

(By the way... I dunno if all brokers do it or if they still do it... ages ago, I eventually cottoned on that what my Merrill Lynch broker was doing was using this sort of slogan to induce confirmation bias and reward me by saying I was smart, whatever I did--as long as I did something. If I didn't make any trades he would pester me with things designed to induce greed or fear. If I engaged in conversation, he would sort of provide alternatives I could choose from, flattering me by asking my opinion on what I thought was going to happen... and then, whatever I seemed to be leaning toward doing, he would encourage me by fitting it to some confirmatory slogan, like "why not? you're playing with house money now.")
Great post.
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Re: Made a $50k bet on Healthcare

Post by pkcrafter »

Gambler, I guess you can invest any way you choose, but if you are really considering a Boglehead approach, you're way off.

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Re: Made a $50k bet on Healthcare

Post by John3754 »

What information do you have that makes you think healthcare is going to outperform?
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Re: Made a $50k bet on Healthcare

Post by JoMoney »

Among the problems I have with sector investing, is the concentration. VHT has nearly half it's holdings in the top ten stocks, and more than 10% in the single top holding. Even combined 50/50 with a good market index fund that is some heavy concentration. Having more than 5% in a single security or issuer (other than U.S. government guaranteed securities) is something that concerns me in my investments. When your eggs are all in one basket, you need to "Watch that basket!" .
I'm not sure how you came to choose this sector, but health care has been a good place to be the past couple decades, I know I have some reservations going forward. The U.S. as a nation spends a very large percentage of our wealth on health care http://data.worldbank.org/indicator/SH.XPD.TOTL.ZS . It's a topic that's got a lot of attention the past few years, and I'm sure there is a lot more to come. Over time, it's grown at a rate considerably faster than other parts of the economy. Good for investors in the past, but I just don't see how health care can keep growing at that rate going forward (not that it won't grow, but difficult to keep up the rate relative to other areas). If it keeps growing faster than other areas it would eventually leave us as a nation with nothing to spend on other necessities. Good luck with your investment (? bet ?) but be careful.
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Re: Made a $50k bet on Healthcare

Post by letsgobobby »

Waste of time and money. My portfolio is as efficient as I know how to make it. Why waste expected returns on hunches or gut feelings? I rather gamble at the craps table, not the stock market. I believe my odds are actually better there.
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Re: Made a $50k bet on Healthcare

Post by jdilla1107 »

Gambler wrote: that thread gave me a new idea.
instead of trying to catch a falling knife, i'm going to ride the wave.
How long until you change your mind and get the next "idea"? If it looks wrong in 4 months will you just bail and move onto the next one?
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Re: Made a $50k bet on Healthcare

Post by pkcrafter »

Calm Man wrote:I think OP is messing around and not really doing any of this. It is just too arbitrary and the screen name is a bit of a tipoff.
After reading his other post about EM and REITs, I'll just say:

+1.

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Re: Made a $50k bet on Healthcare

Post by Woodshark »

nisiprius wrote:
Gambler wrote: but I am going to warn you seriously about the danger of slogans. Specifically, the danger of maintaining some little private stock of maxims and slogans, all mutually contradictory, that you can use in place of thought--a nice little baby rattle you can hand to your left brain to play with to distract it from what the right brain is doing...

This was just so enjoyable to read. Brilliant writing, just brilliant.
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Re: Made a $50k bet on Healthcare

Post by livesoft »

nisiprius wrote:(By the way... I dunno if all brokers do it or if they still do it... ages ago, I eventually cottoned on that what my Merrill Lynch broker was doing was using this sort of slogan to induce confirmation bias and reward me by saying I was smart, whatever I did--as long as I did something. If I didn't make any trades he would pester me with things designed to induce greed or fear. If I engaged in conversation, he would sort of provide alternatives I could choose from, flattering me by asking my opinion on what I thought was going to happen... and then, whatever I seemed to be leaning toward doing, he would encourage me by fitting it to some confirmatory slogan, like "why not? you're playing with house money now.")
These techniques are described by John Rothchild in his book "A Fool and His Money" written in 1988.
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Re: Made a $50k bet on Healthcare

Post by abuss368 »

Wow! More power to you. I would not feel comfortable doing it, but if you are aware of the risks and it passes the sleep test, then do not let anyone here hold you back. With such a concentrated position, if it rides a good wave, you will be smiling!

The most concentration we have is REITs, but they are in the context of Total Stock and Total International funds.

A lot of the seriously money in this country and around the world was from real estate and very concentrated investments.
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Re: Made a $50k bet on Healthcare

Post by dgdevil »

InvestorNewb wrote:Personally I think Healthcare is a pretty safe bet. There are a lot of boomers retiring who will have increasing needs.

I don't understand why more people don't tilt toward this sector; the fund isn't mentioned that much around here.
I agree with you. 20% of my IRA is in healthcare (PRHSX), and I have some play money in XLV.
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Re: Made a $50k bet on Healthcare

Post by nedsaid »

I am an investor and not a gambler. What I want to own are sets of cash flows, represented by ownership of both stocks and bonds. I want to own the cash flows real estate as represented by REITs. I also want to own assets which are held by the companies of which I own shares directly or through funds. And I want to own cash flows and assets for long periods of time. It is a participation in the productive capacity of the world economy. It is not putting $100 on the fifth horse in the third race.

So if one wants to gamble, go ahead. That is not what I do.
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Re: Made a $50k bet on Healthcare

Post by abuss368 »

nedsaid wrote:I am an investor and not a gambler. What I want to own are sets of cash flows, represented by ownership of both stocks and bonds. I want to own the cash flows real estate as represented by REITs. I also want to own assets which are held by the companies of which I own shares directly or through funds. And I want to own cash flows and assets for long periods of time. It is a participation in the productive capacity of the world economy. It is not putting $100 on the fifth horse in the third race.

So if one wants to gamble, go ahead. That is not what I do.
Great post! I have been writing more and more about cash flows. The older I get, the more I realize cash flow (i.e. dividends, interest, capital gains, etc.) is most important. I like seeing the cash flow from the Total US and International stock funds, the US and International REIT funds, and the Total Bond and Tax Exempt Bond funds. This will fund retirement!

Cash flow has been the one of the "things" holding me back with TIPS! There is minimal or infrequent cash flow. The Vanguard website notes that the dividends can fluctuate. I like seeing the monthly dividends on the bond fund accrue and then pay out on the last day of the month!
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Re: Made a $50k bet on Healthcare

Post by Gambler »

John3754 wrote:What information do you have that makes you think healthcare is going to outperform?
obamacare
forced health insurance else pay an IRS penalty.
penalty increases as years go buy.

in other words, since more people have healthcare, more people are going to use it.
thus more spending in the healthcare sector.

going to hold this till 3months b4 the next presidential election.
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Re: Made a $50k bet on Healthcare

Post by Gambler »

dgdevil wrote:
InvestorNewb wrote:Personally I think Healthcare is a pretty safe bet. There are a lot of boomers retiring who will have increasing needs.

I don't understand why more people don't tilt toward this sector; the fund isn't mentioned that much around here.
I agree with you. 20% of my IRA is in healthcare (PRHSX), and I have some play money in XLV.
prhsx is killing vht for the past few years. but morningstar classifies them differently.
guess actively managed (.7%) vs passive (.14%)??

Morningstar says some key people have left prhsx? that made me shy away from it.
didn't even look at xlv spydr :(
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Re: Made a $50k bet on Healthcare

Post by Texas hold em71 »

Woodshark wrote:
nisiprius wrote:
Gambler wrote: but I am going to warn you seriously about the danger of slogans. Specifically, the danger of maintaining some little private stock of maxims and slogans, all mutually contradictory, that you can use in place of thought--a nice little baby rattle you can hand to your left brain to play with to distract it from what the right brain is doing...

This was just so enjoyable to read. Brilliant writing, just brilliant.
But, but can I still say the one about a fool and his money?
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Re: Made a $50k bet on Healthcare

Post by dgdevil »

Gambler - Clearly you are politically wary. In which case I have 3 words to make you shiver - mid term elections. Check the history.
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Re: Made a $50k bet on Healthcare

Post by John3754 »

Gambler wrote:obamacare
forced health insurance else pay an IRS penalty.
penalty increases as years go buy.

in other words, since more people have healthcare, more people are going to use it.
thus more spending in the healthcare sector.
More people insured does not necessarily equate to more spending. I work in healthcare and I can tell you first hand that there are massive spending cuts going on right now, lots of hospitals are going under, and much of the industry is downsizing. The focus is currently to significantly reduce spending in healthcare not increase it.
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Re: Made a $50k bet on Healthcare

Post by letsgobobby »

John3754 wrote:
Gambler wrote:obamacare
forced health insurance else pay an IRS penalty.
penalty increases as years go buy.

in other words, since more people have healthcare, more people are going to use it.
thus more spending in the healthcare sector.
More people insured does not necessarily equate to more spending. I work in healthcare and I can tell you first hand that there are massive spending cuts going on right now, lots of hospitals are going under, and much of the industry is downsizing. The focus is currently to significantly reduce spending in healthcare not increase it.
+1
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Re: Made a $50k bet on Healthcare

Post by Longtimelurker »

As long as you truly understand that your use of the word "bet" in the title is 100% accurate as a description of what you did, I see no issue with it. It is a pure gamble with no empirical evidence to support the move, and lots of empirical evidence to suggest that this will end poorly for you. Good luck.
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Re: Made a $50k bet on Healthcare

Post by nedsaid »

Abuss368, before you get carried away with my brilliance, I have to admit this came from Warren Buffett. :D

I read this somewhere and it revolutionized and greatly clarified my thinking. Really businesses, at least the profitable ones, are sets of cash flows. Their value is derived by the amount of the cash flows they produce and from how fast the businesses can increase those cash flows. A secondary factor are the physical assets held by these businesses.

So a tip of the hat to Mr. Buffett who has taught all of us a lot about investing.
A fool and his money are good for business.
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Re: Made a $50k bet on Healthcare

Post by nedsaid »

When I talk about cash flows in a business, I am talking about earnings. Some of that might be distributed to the investor in dividends. Presumably, what cash that is retained by the company should over time increase the value of the company. That is if the company uses the retained cash wisely. So a big part of the benefit to an investor of cash flow from a business you should eventually see from capital appreciation and not dividends. (But yes, I love dividends).

Of course investors get 100% of the cash flows generated from bonds (less fund expenses).
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Re: Made a $50k bet on Healthcare

Post by selftalk »

Do you have any idea how overbought healthcare is at this time ? If you do this you`re performance chasing and it`s been proven to have the odds so strongly against you. Momentum is a wonderful thing if you get out in time. No one has done it consistently throughout the ages.
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Re: Made a $50k bet on Healthcare

Post by LadyGeek »

Please stay on topic, which is the OP's $50k investment. Politics and opinions of the health care law are off-topic.
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Re: Made a $50k bet on Healthcare

Post by Nowizard »

Vanguard's Healthcare Fund is what ultimately led us to the Bogleheads on the Morningstar Forum. At the time, without knowing it, we had "invested" in performance chasing for at least 15 years and had approximately 90% of a reasonably significant portfolio in Healthcare. We were very fortunate and learned of this forum, have diversified and continue to have some invested in the Healthcare, Admiral, fund. We are not sure whether it is a conscious choice to overweight that sector or just an emotional investment, but it has served us well. I only mention this to point out that there are many of us who are very thankful for this forum who still have much to inculcate before being 100% Bogleheads. Our thanks for all the advice, even that currently not followed ( :| ), is sincere.

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Re: Made a $50k bet on Healthcare

Post by Gambler »

Nowizard wrote:Vanguard's Healthcare Fund is what ultimately led us to the Bogleheads on the Morningstar Forum. At the time, without knowing it, we had "invested" in performance chasing for at least 15 years and had approximately 90% of a reasonably significant portfolio in Healthcare. We were very fortunate and learned of this forum, have diversified and continue to have some invested in the Healthcare, Admiral, fund. We are not sure whether it is a conscious choice to overweight that sector or just an emotional investment, but it has served us well. I only mention this to point out that there are many of us who are very thankful for this forum who still have much to inculcate before being 100% Bogleheads. Our thanks for all the advice, even that currently not followed ( :| ), is sincere.

Tim
wow.. you would have made $$$$$$$ if you had 90% of your portfolio in PRHSX the past 5 yrs.
it avg 30%/yr for 5yrs :shock:
"Always be thankful for what you have no matter how much or how little" -EternalOptimist
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Julieta
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Re: Made a $50k bet on Healthcare

Post by Julieta »

I thought this was a Boggleheads forum. I've been to Vegas and it's not pretty... :wink:
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selftalk
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Re: Made a $50k bet on Healthcare

Post by selftalk »

It`s a waste of time reading and responding to Gambler`s words and besides it is most probably not true in my opinion.. It`s the opposite of this sites value to us. I really don`t care if this person BET $ 1,000,000. I learn absolutely nothing from this person and will waste no more time reading it.
dgdevil
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Re: Made a $50k bet on Healthcare

Post by dgdevil »

Just wondering if OP stayed the course through the recent healthcare dip and still has his $50k bet? The sector seems to be on fire recently, with PRHSX up 3.5% today.
madbrain
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Re: Made a $50k bet on Healthcare

Post by madbrain »

John3754 wrote: More people insured does not necessarily equate to more spending. I work in healthcare and I can tell you first hand that there are massive spending cuts going on right now, lots of hospitals are going under, and much of the industry is downsizing. The focus is currently to significantly reduce spending in healthcare not increase it.
Also, the ACA caps the profit margins of insurers - at least 80% of premiums must be paid for care.
Of course, the amount charged by providers, drug manufacturers, etc. is not limited, except by the ability of insurers and insured to pay.
But the US already has the highest proportion of GDP spent on healthcare of all countries in the world. It is difficult to see how that can be sustained in the long term.
This is not to say that the OP's investment in healthcare is necessarily bad, only that I don't see the case for long-term outperformance of this sector.
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Gambler
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Re: Made a $50k bet on Healthcare

Post by Gambler »

dgdevil wrote:Just wondering if OP stayed the course through the recent healthcare dip and still has his $50k bet? The sector seems to be on fire recently, with PRHSX up 3.5% today.
yup.
after reaching it's high of ~$66 ealier this month, I was going to sell to buy REITs but thought they were expensive.

wonder what caused the huge spike?
"Always be thankful for what you have no matter how much or how little" -EternalOptimist
dgdevil
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Re: Made a $50k bet on Healthcare

Post by dgdevil »

Gambler wrote:
dgdevil wrote:Just wondering if OP stayed the course through the recent healthcare dip and still has his $50k bet? The sector seems to be on fire recently, with PRHSX up 3.5% today.
yup.
after reaching it's high of ~$66 ealier this month, I was going to sell to buy REITs but thought they were expensive.

wonder what caused the huge spike?
Just a guess, but Biogen up 11% on strong financials:

http://online.wsj.com/article/BT-CO-201 ... _wsjlatest
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Gambler
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Re: Made a $50k bet on Healthcare

Post by Gambler »

dgdevil wrote:
Gambler wrote:
dgdevil wrote:Just wondering if OP stayed the course through the recent healthcare dip and still has his $50k bet? The sector seems to be on fire recently, with PRHSX up 3.5% today.
yup.
after reaching it's high of ~$66 ealier this month, I was going to sell to buy REITs but thought they were expensive.

wonder what caused the huge spike?
Just a guess, but Biogen up 11% on strong financials:

http://online.wsj.com/article/BT-CO-201 ... _wsjlatest
thx. looks like my gamble is paying off (so far) altho not as good as REITs.

should have sold the other $50k to go from s&p500 to reits. :P
"Always be thankful for what you have no matter how much or how little" -EternalOptimist
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Imperabo
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Re: Made a $50k bet on Healthcare

Post by Imperabo »

Gambler wrote:
should have sold the other $50k to go from s&p500 to reits. :P
And this is why winning a gamble is often worse in the long run than losing. The tendency is often to think "if I had only bet more", and next time you have a "sure thing" you bet the farm. It's the road to sadness.
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