2020 should be another favorable year for healthcare investing, though the gains thus far in 2019 should necessitate greater selectivity. The overriding investment theme in healthcare, in my opinion, is the fact that the dual tailwinds of the aging of the population and the obesity epidemic (both groups utilize greater healthcare resources) will result in an average annual 6% increase in US healthcare spending for the next ten years, at which time the total spend will exceed $7.5 trillion. I do not expect the implementation of a Medicare For All insurance program, and I do