The health care sector has been a stellar performer since the outbreak of the financial crisis. The traditionally defensive sector held up better as stocks descended lower, and they have more than kept up the pace during the bull market over the last six years. A primary driver of this strong performance has been the biotech sector. But after an exceptionally strong run in recent years, it is worthwhile to consider whether this performance may have been a bit too good. In other words, is the biotech sector set up to bleed when the new bear market finally gets underway? And could it pull the health care sector down with it?
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