The Wizard

Is Washington really the Land of Oz?

President Obama got a lot of health care “leaders” together to commit to keeping health care costs from rising. His announcement raises several questions:

1. Costs compared to what? Since we don’t know what future costs are, how can we know if this commitment saved any money? 2. What’s gonna reduce the costs? Will doctors and nurses take a pay cut? How then will we attract new health care workers? Will insurance and drug companies forgo their profits? Then how will they attract new investment capital? 3. Is evidence-based health care new? I thought that’s what the science of medicine has always been about.

In the Land of Oz, all Dorothy has to do is click her heels three times and say “there’s no place like home.” Unfortunately, President Obama’s health care proposal makes him look like the man behind the curtain.

Douglas R. Tengdin, CFA
Chief Investment Officer
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By |2014-09-04T21:07:06+00:00May 15th, 2009|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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