We initiated a new position in diagnostic systems provider Alere, Inc (ALR). We believe the company has the potential to grow intrinsic value by focusing on cost savings, asset disposals, and debt pay-down. All three of these initiatives would represent avenues to unmask the true long-term earnings power of the company and its core point-of-care diagnostics business. We forecast earnings well above the current consensus estimates.
From Diamond Hill Capital (Trades, Portfolio)'s Select Fund Third Quarter 2014 Commentary.
