Obamacare Blowing Up Healthcare Stocks
If government would totally get out of healthcare it would be cheap.
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President Barack Obama and the Obamacare debacle may be highly unpopular with Americans, but the healthcare industry that donated a staggering $22,471,562 to Obama’s 2008 campaign is posting record profits amid the fallout.
So far in 2013, the S&P healthcare sector index has gained 37.5%, making it the S&P 500’s best-performing sector, reports Reuters.
“Healthcare is the place to be. It’s a hot area,” said U.S. Global Investors Inc. top trader Michael Matousek. “People want stocks in healthcare, industrials and consumer discretionary. That’s where tactical investors have been focused, and that’s where the money has been flowing.”
Cato health policy analyst Michael Tanner told CNBC that what is bad for citizens has been a boon for insurance companies.
“Customers aren’t doing well but the insurers are doing great,” said Tanner. “Insurers by and large are getting new customers.”