by Travis Johnson, Stock Gumshoe | May 20, 2016 5:13 pm
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Thanks for this article. Wonder why OHI has been selling off. Any thoughts?
I own PMW and OHI, after a decent run, OHI has sold off. But MPW seems to be consolidating, then moving again.
OHI is focused on skilled nursing facilities, which is why it has a higher yield and is more volatile than many of the health care REITs — people are terrified of the big changes in regulatory management of skilled nursing facilities, particularly the medicare reimbursement policies, and some of the operators (particularly ManorCare, HCP’s big tenant) have had trouble. On the flip side, it’s still a very high demand business with limited facilities and OHI seems to be managing through the current climate pretty well from my perspective, and with pretty good diversification and limited exposure to the operators who we know are in trouble. That’s my smallest position in this bunch, partly because of that exposure to regulatory risk, but I think the company is a good operator (and investors sometimes fall in lust with their “raise the dividend every quarter” policy).
If one is to be conscionable with their stock picks, avoid AAPL. Steve Jobs is gone, thank heaven, as he destroyed the world with his creative, yet mind numbing products. Legions of hipster hypocrites protesting during Occupy Wall Street movement recorded their putrid actions on their iPhones. They compute on their overpriced Macbooks and are now feeling the Bern. Meanwhile the evil Apple overlords hoard billions in cash oversees avoiding taxes, do not contribute an iota towards philanthropy, and are given a complete pass by their legions of cultish users. Jobs heirs return nothing while, Gates & Buffet are giving back but are are the face of the evil 1%. If I see one more Prius with a Bernie sticker and AAPL logo, I’m going to go postal. There are plenty of good stocks out there without having to support these pukes. My $65 Windows Phone works beautifully and if it gets broken or lost, I’m not going to panic. Granted, it may not have the latest pizza delivery app, but for the $550 savings, I can call in the order.
I am replying on my iPhone. Capitalism works. God bless America.
Maybe Russia or China would be more to your liking.
Thanks for informing us about Steve Jobs destroying the world. I did NOT know that.
So Travis, I notice that you still own SEQUX. Are you still feeling positive about this found after the VRX debacle and their large position in VRX and then loss of Goldfarb?
Interested in your thoughts as I was invested as well with them…
I dramatically reduced my Sequoia allocation when Valeant started really falling — but I think that was their one huge mistake (the shockingly big overweight in Valeant that developed over time), and he fell on his sword for making it. I expect them to return to prudence with more scrutiny from the Board, but it’s a small position now and I’ve certainly lost some trust.