STATE OF PLAY
buffalo funds’ elizabeth Jones once practiced medicine. Making diagnoses with incomplete information honed her deductive reasoning—a boon to buffalo’s $2 billion Discovery fund. She hunts for companies mired in megatrends (containing spiraling healthcare costs, say). her fund returned 25% in 2017. three picks:
It once cost $2.7 billion to sequence the human genome, but this $40 billion behemoth has it down to $1,000; its nova Seq sequencer may drive another big drop. Jones finds it fairly priced on expectations that it’ll sequence 5 million genomes by 2022.
this administrator of health-savings and flex-spending accounts is down because of a minor accounting restatement. Jones expects the dust to clear, and if the economy turns, laid-off HSA clients can go on wage works managed cobra plans.
over 70% of this garbage hauler’s residential fleet is automated. burgeoning Uber-like digital services should help republic win share from smaller firms.