Replay of LIVE Q&A
Earlier today, we hosted our monthly Hedgeye House Call to provide a recap of what we have been working on, as well as address questions from subscribers regarding ideas on our position monitor, our thoughts on the industry, and keeping up-to-date with our research process.
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Hedgeye House Call | AMN, ATIP, TDOC, ONEM, UHS, ACHC, & More Health Care Subscribers: CLICK HERE for replay of video presentation and materials links. |
Theme updates
Macro Regime Shift | In Quad 1 where “everything goes up,” we’re looking forward to seeing some of our theses play out in the price of the stocks, not just in the fundamentals. There are names we’ve culled from the Best Ideas on our Position Monitor (i.e., we've moved EYE, NEO, and others to the Long Bench), but the ones that we’ve continued to stick with, despite frustrating performance in some cases, look even better fundamentally than when we added them.
Macro Quad Playbook | Plugging into Macro Quad 1 and the MicroQuads. Filtering for Macro Quad 1, Sector Trends, and Subgroup Headwinds and Tailwinds, we'll review a shortlist of new ideas.
Omicron | What’s the threat level (to our stocks and the public/health system)? Key differences from prior waves and what we’re watching.
U.S. Medical Economy | Health Care Employment Update for November 2021.
TICKER UPDATES
AMN | Tracker update, labor demand hasn’t peaked yet.
ATIP | Hiring Tracker update + recovery update.
TDOC | It's not time to cover (!) - the multiple regime transition from EV/Sales to EV/EBITDA continues to run its course.
ONEM | We have stuck with One Medical (now including Iora) all year and the market has penalized us for doing so. Meanwhile, management continues to execute. We will provide an update on our thinking and outlook.
All data available upon request. Please reach out to with any inquiries.
Thomas Tobin
Managing Director
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