So why don't you tell everybody, what does Molina do as compared to UnitedHealthcare, and

what happened? Right.

So Molina is a managed care company.

They're primarily all Medicaid.

Medicaid.

Medicaid's insurance for low-income individuals.

There's probably 75 million people on Medicaid.

If you had to give our viewers a summation of what your view on the sector is right now, What would that be? Because

I mean, is the market kind of shrinking at this point, and how does an investor think about that?

Absolutely.

We haven't even spoken about Medicaid, which I think will also undergo pressure since the twenty twenty seven.

So you're absolutely right right now.

Think about health insurance and underwriting cycles.

And right now we're in, unfortunately, a difficult part in every single Medicaid exchange marketplace, commercial Medicare advantage.

But if you're an investor with long term duration, then there's a lot of value to be had.

What is the investor sentiment towards the sector these days?

So

the answer to your question is really the answer to healthcare costs in the U.S., which is no matter what has been out there, hospital initiatives, pharmaceutical innovations, you name it, healthcare costs have ballooned out of control.

They're 20% of GDP.

Nothing has worked.

So where the healthcare system landed about a decade ago was we need to impact change at the front gate.

And who are your gatekeepers, your primary care physicians? Because by the time you end up, for example, in the hospital, your health status has basically deteriorated to the point where you're going to be incurring a lot of costs, and you're going to have to go to the hospital, end up in the ER.

So instead of that...

What has happened to OptumHealth in terms of the U.S. government pricing, the change in pricing? Walk us through the whole thing.

So walk us through what you see in the next 12 months that makes it outperform relative to others in your coverage list.

Great question.

And I would say, yes, we are outperform, but tactically, very, very cautious on this outperform, especially near term.

I think the question that we need an answer to is, what will stop the bleed? I think there are a lot of really good points made.

Falling knife, 210.

And I think right now there's very, very little that they can do to immediately stop the bleed and stop the near-term sentiment.

I think the immediate need is 2025 guidance.

And really, I'm curious where you went from your price target then to now, because it's amazing where people were at 600 are now down to 50 and what they needed to do to get there.