More than 10,000 Americans reach the age of 65 every day and move the demographic needle further to a change in spending power, preferences and political clout. In five years, over 50% of the U.S. population will be over the age of 50. But you’ve already heard this story, right? The demographic boom is just building up steam, and for years, investors have been rushing to find every retirement housing and health care stock under the sun. Wall Street has been… Read More
More than 10,000 Americans reach the age of 65 every day and move the demographic needle further to a change in spending power, preferences and political clout. In five years, over 50% of the U.S. population will be over the age of 50. But you’ve already heard this story, right? The demographic boom is just building up steam, and for years, investors have been rushing to find every retirement housing and health care stock under the sun. Wall Street has been talking up the coming change for quite a while, and the usual suspects all trade at pricey levels. Senior Housing Properties (NYSE: SNH) trades at almost 34 times trailing earnings and has missed earnings expectations in 11 of the past 12 quarters. The SPDR S&P Pharmaceuticals Fund (NYSE: XPH) trades for an expensive 19 times trailing earnings, a premium of almost 20% on the rest of the… Read More