Quoted from Bublehead:
Ok, here is a little “update” on the pinball market. This covid19 thing is a major risk to everything in the economy. My wife is a VP at the worlds largest health insurer, and they are taking this VERY seriously. They have shelved all internal work NOT supporting claims processing, they are mobilizing their entire workforce to do nothing but handle covid19 and corona virus related issues. They have a “get to the office” policy that is calling all workers to report to work, all work from home is cancelled, unless you are an approved tele-commuter. So, those prognosticators, yeah those health insurance handicappers are betting on a blow out overwhelming of their insurance claim systems, that this will push the system not only to the brink, but well past it. They are expecting at least 2 quarters of recession, and major hits to all finacial markets, their own included.
These are the people who bet on how many people will get sick, need treatment, or will die. So anyone thinking this will blow over anytime sooner than 6 months are betting against what the worlds largest health insurance provider is betting on.
If you think this won’t impact the pinball market, I enjoy your enthusiasm, but I am not in the market for any NIB pinball any time soon, and the secondary market will at first heat up as people will try and buy up other people’s poor decisions at bargain prices, but only the rich will be buying eventually, NIB or not. The disposable income glut is going to dry up fast.
Sorry, but the world's largest health insurer is part of the sector that often gets it wrong. Their issue is that they make bets on getting to keep premiums when more members are well than sick. This is one of those times that bet doesn't pay off. It's no different than when insurers get hit with hurricanes, etc. and have huge payouts that erode their reserves.
The economic factors for an insurer and nowhere near those of the rest of the general economy. This is going to hurt, but its unlikely to cripple for a prolonged period of time (greater than 6-9 months).
Commerce Township, MI
