It seriously couldn’t happen to a nicer group of folks.
United Healthcare, one of the most despised organizations in the United States, is a component of the Dow Industrials with such esteemed and diverse compatriots as McDonald’s, Microsoft, Apple, Goldman Sachs, and Nike. Want to know an important difference between those organizations and UNH? The answer is that a year from now, they’ll all still be in the Dow.
The news this morning is that the healthcare-denying, money-grubbing leadership as UNH is suspending guidance and has kicked out their deer-in-headlights CEO, Andrew Witty, who is the top charlatan on the heap.
Of course, UNH is on people’s minds these days more than it was a few months ago, thanks to the young chap (alternate suggested description from a reader: deranged murderer of husband and father) shown below. Incredibly, as well-established and gigantic an organization as United Healthcare is, it has lost almost 50% – – FIFTY PERCENT!!! – – in a timespan measured in weeks.
Even on a monthly bar scale, with a timeline measured in decades, UNH has cracked its lifetime trendline. Not long ago, one could argue (as I did) that the tagging of the trendline might represent a buying opportunity, but that trendline cracked soon thereafter, and a broken trendline ain’t the same thing as an unbroken one.
Thus, the reason the Dow Industrials is down triple digits while the entire remainder of the market is higher is thanks to this one bumbling organization.
It bears repeating: it couldn’t happen to a nicer bunch of folks.
