Health-care stocks still attractive: Traders
After President Barack Obama's speech about the flawed rollout of the Affordable Care Act, the health-care sector still appears attractive, Stephen Weiss of Short Hills Capital said Thursday.
"You still have to be in a group that continues to grow whether the economy's growing or not growing, so I like it," he said on CNBC's "Halftime Report."
Weiss, who holds positions in Tenet Healthcare, Community Health Systems and Gilead, said that he didn't find the president's comments about the breakdown of the government's health-care website surprising.
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"This is an unmitigated disaster," he said. "The end of the day, I don't think it matters."
Weiss said that congressional testimony by Janet Yellen, the nominee to lead the Federal Reserve, was the "more important conversation."
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TheStreet CIO Stephanie Link said that health-care expectations had already been damped.
"I think earnings have sort of been reset already," she said, adding that her comments were focused primarily on stocks of health-maintenance organizations and hospitals. "One thing is clear, though, that the companies continue to cut costs. So, I think the numbers can be beatable should this, when this gets fixed."
Link said that her top pick in the sector was WellPoint, whose stock she owns.