Background
For long, I have been staying cautious with drugmakers as stock investments. The reason is simple: the speculative nature of launching new drugs just makes their business prospects pretty unpredictable in the long term.
However, with the secular trend of the aging population, healthcare is a lucrative and promising industry which many long-term investors would not want to miss. Here comes a unique bet in the space with a better risk/reward profile, in my view: Waters Corp. (WAT). The Massachusetts-based company is the world's leading specialty measurement company focused on improving human