Shares in the troubled private health insurer UnitedHealth Group (NYSE: UNH) are currently seeing their best trading day in months. As of the time of this writing, UNH shares are up nearly 11.8% to $303.94 in pre-market trading.
Yet the company, which is under federal criminal and civil investigations for alleged irregularities in its Medicare business, hasn’t announced any fundamental changes to its business—no revised upward outlooks, or hints that its operational costs are decreasing. So why, then, are UNH shares surging this morning? It mainly comes down to one man: Warren Buffett.
The Warren Buffett effect
Warren Buffett is the most legendary investor in America, and when his company, Berkshire Hathaway, buys shares in another company, investors take notice. And that’s exactly what