United Health (UNH): Is This Tax-Farming With Scrubs On?

Investrix presents UnitedHealth Group (UNH): fifty million members, $447 billion in revenue, $188 billion of pharmacy spend through one purchaser. A former CEO came back from retirement at seventy-three on a $1 salary and bought $25 million of his own stock on his first week in. The alignment signal is, Investrix argues, the clearest he has ever seen.Numerius has concerns. Return on capital has halved in three years — from 15% to 8.5%. The guild dropped 1.2 to 1.3 million members from the Medicare rolls to make the math work. And 60% of every denarius collected comes through the Senate's pen — the same pen now holding a criminal investigation.They walk the cheese stalls of Lutetia while Opportunus vanishes the moment insurance is mentioned. Investrix hears the bull case he wants to hear. Numerius sees a collegium publicanorum with medical clothes on.Who's right? And what happens when Investrix, for once, refuses the trade not because the numbers fail — but because he understands what the eleven is?Topics: UNH stock analysis, UnitedHealth Group valuation, Medicare Advantage risk, CMS rate cycle, medical care ratio, Stephen Hemsley insider buying, DOJ investigation