Should You Hold Centene Corporation (CNC)?

Heartland Advisors, an investment management company, released its “Heartland Mid Cap Value Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the portfolio moved up more than 7.5% compared to a 12.1% increase in the Russell Midcap Value Index. Due in part to the large increase in value that highly leveraged and speculative equities have seen since late October, part of the underperformance was due to the companies that the fund...