UnitedHealth: Be Greedy When Others Are Fearful

It now offers more than a 50% margin of safety to the fair value.

It was 2022…

I remember the exact progression of the events:

• Inflation proved more persistent than the Fed predicted.

• The Fed started to increase rates earlier than forecasted.

• The rate hikes were way faster than predicted.

Into that macroeconomic environment, Meta announced in its earnings call the first-ever decline in active users in its history.

Shares pl…