Hedge fund: This is how much we love health care

Larry Robbins, founder of Portfolio Manage and CEO of Glenview Capital Management.
Heidi Gutman | CNBC

Larry Robbins loves health-care stocks so much that he's allowing clients to invest alongside him in the sector — for free.

The gesture comes with Robbin's Glenview Capital down more than 20 percent this year through Monday's close due to big losses among his biotech and hospital holdings, CNBC's Kate Kelly noted Tuesday.

In a letter sent to clients Monday, he addressed the losses, gave a passionate defense for his health-care positions and offered the new no-fee fund vehicle focused on the sector.

The billionaire hedge-fund manager also said he will cut his pay to zero in 2015.

"I will rightfully earn nothing this year as we focus our resources on investing in team and process," Robbins wrote in the letter. "Unfortunately, opportunity often feels like a punch in the face. Our portfolio has a strong chin, and our team and I never stop fighting for you."

Here's why he still believes health-care stocks are due for a big comeback...

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