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Strategies & Market Trends : Buffettology

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To: Michael Burry who wrote (1692)7/20/1999 9:22:00 PM
From: Shane M  Read Replies (1) of 4661

PPD is one that was showing up on my watchlist too, but I hadn't looked into yet because a few others kept getting my attention. Unfortunately HMA was one of those that diverted me.

BTW, I re-evaluated HMA over the weekend and feel that the current price is a still a good buy despite the recent warning. HMA has consistently delivered in the past, and with rural hospitals they have targeted a segment that offers them the potential for market beating returns. They've also done very well purchasing distressed hospitals and profitably turning them around, recruiting staff, and enhancing services. Medicare reimbursement have made the environment more difficult, but are commited to controlling costs to provide shareholders solid returns. I'm not buying more currently because I'm saving my remaining cash for what I see as an inevitable correction, but otherwise I'd probably be averaging into HMA at this point.

Also, I tinkered around with the screening criteria at the base of my stock valuation spreadsheet, and I ended up loosening the "Buffet" criteria a little bit to see if any more companies would make the cut in valuation terms. Even though loosening the criteria allowed about 400 more companies through, only a handful were added to my watchlist. One that was particularly interesting to me is Dycom DY. It's a communications infrastructure stock. I view bandwidth as an area that has long term economics in its favor. They're in the phase for a tech company where past investment pays off, profit margins are expanding, and debt levels are coming down. I'll be reading more about them, and probably looking to accumulate should the market oblige with a scary correction.

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