Baupost

The Medicare Advantage trade just got repriced—by Washington. Donald Trump‘s administration proposed 0.09% rate hike for Medicare Advantage plans in 2027, a fraction of Wall Street's 4%–6% expectations, triggering a sharp selloff across the sector. Stocks of managed-care giants like CVS...

Billionaire hedge fund value investor Seth Klarman is extremely skeptical of the stock market rebound off the March lows. In his recent second-quarter letter to investors Klarman, who manages the $30 billion hedge fund Baupost, said a combination of faulty investor psychology and an enabling...