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For One Hedge Fund, a Bet on the Affordable Care Act Sours

(New Zealand Herald) Wagering that the new federal health care law would be a boon, the billionaire investor Larry Robbins bet big on hospital stocks five years ago. Those investments helped propel his hedge fund, Glenview Capital Management, to the ranks of the top-performing funds in 2013. Since then, the bet has soured. Glenview suffered steep losses as the stocks of many for-profit hospital chains sank, hurt by weak earnings and, more recently, by uncertainty over the lasting impact of the law, the Affordable Care Act.

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