We chose to take a conservative view, using the most recent reported institutional transaction as the basis for valuing the company and its sandal-sporting, hoodie-clad chief.

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In the last quarter, UnitedHealth reported a significant dip of 170 basis-point in medical care ratio, as customers were avoiding medical expenses altogether due to bleak economic conditions.

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Despite the fact that Williams was one of the only companies to have reported its 2000 energy-trading revenues on the conservative basis used by financial firms (as the chart shows), its shares took a beating.

ECONOMIST: Energy trading