Those betting on the demise of blue-chip healthcare stocks like CSL and ResMed might want to rethink based on a review of Microsoft and Apple’s histories.
The healthcare sector has become one of the most discussed topics in the sharemarket due to a severe sell-off. Once a highly coveted sector and a cornerstone of many Australian investment managers’ portfolios, it’s now being shunned like a structurally challenged cyclical business.
Since January, the sector has experienced a 14 per cent decline, while the broader market has been flat over the same period. This makes it the poorest performing sector, even underperforming listed property.
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Jun Bei Liu is the founder and lead portfolio manager at Ten Cap. She formerly worked for Tribeca Investment Partners.
