Glenview Capital Management Bullish On HCA – Notes "One Of These Is Not Like The Other"

In yesterday’s article, we took apart at a high level Glenview Capital Management founder Larry Robbins’ portfolio management approach and addressed his macro concerns. ValueWalk was first to report the letter. Looking at his portfolio positions in more detail today we view the highlighted portions through the lens of predictable returns and sustainable revenue at a generally unrecognized value. Here we observe a pattern in investment thesis that makes understanding the "invest on a drawdown" logic seem less foggy.

Glenview Capital Management portfolio moves

In the fund’s 1^st quarter letter to investors, Glenview Capital Management highlighted...