By Vinay Thapar
Healthcare stocks served as powerful painkillers during last year's market declines. Yet the sector offers much more than just downside protection for investors who focus on business potential and resist the urge to predict scientific breakthroughs.
While the MSCI World Index fell by 8.7% last year, healthcare stocks advanced by 4.8%. But healthcare's reputation as a defensive haven understates the sector's attractions. Pharmaceutical groups, medical device manufacturers and healthcare providers are benefiting from big trends that can fuel returns for investors who are skilled at deciphering the complex forces shaping the sector.