Background: The top-down case for a fresh look at healthcare middlemen
A theme I've had since February has been to look for anti-momentum stocks. Simple translation: depressed value stocks - a tricky concept these days - over in-fashion growth stocks. A more complex translation would be that I'm looking for low P/E stocks of companies with some real growth likely as well as the ability over time to transmit to its customers the Fed's preferred ongoing monetary inflation. And I'm realistic that given current interest rates and valuations, expecting a reasonably safe stock to have double-digit expected returns is already getting aggressive.
Looking beyond the glamour stocks of the day, there actually are many attractive value stocks by the above criteria. These can be found in a number of industry sectors that have dropped into the "out of favor" category. Amongst these are many healthcare stocks, which range from a shifting and unpredictable array of biotechs, many industrials, almost all financials, and others.
