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re: 2023 stock picking challenge thread
Posted on 1/1/23 at 7:50 am to JimMorrison
Posted on 1/1/23 at 7:50 am to JimMorrison
quote:
Bear: UNH, $530. This needs a 25% haircut to $400.
Totally Agree anything Medical/Heathcare related is overbought. I'm not buying anything in this sector until prices come down. It may take a while but i can wait.
1
Posted on 1/2/23 at 9:05 am to FLObserver
quote:
Medical/Heathcare related is overbought. I'm not buying anything in this sector until prices come down. It may take a while but i can wait.
I'm not bearish on the entire healthcare sector (for instance, I like ABT to do well in 2023), but you're right that a lot of stocks are overvalued now due to investor fear/defensive positioning.
UNH's multiple is historically high with low margins and lower growth. A bad combo heading into this year so the bull case is weak and the stock should face selling pressure.
2023 is going to have a lot of opportunity. A year for tactical trading and stock pickers.
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