Davidg, I'm always impressed by those who manage an exit near the top. Congrats to you. As for your assertion that that 128 is a realistic point of re-entry, I disagree. You fail to allow for the rather handsome capital gains and dividend distributions typical of this fund. Additionally, I would point out that the punish all occurrence of equities happening in '08-'09 was real, was not to last across the board. Healthcare rebounded nicely, as it is indeed a very legitimate and realistic growth sector.
There have been 5 down years in this fund's 30 year history. Is it a reasonable expectation for it to be ready for another ? As for politicians putting a BULLSEYE on the sector, what the hell is new ?
I'll tell you what won't be new, Political promises delivered. Big pharma corporate inversion will continue and SHOULD, until such time as those same politicians adjust US taxation policies What's real you may ask ? Less than 1/3 of American baby boomers are 65, and 10,000 attaining that age EVERYDAY. Do you ever watch evening network news ? More than half the advertisers are PHARMA. and they are out with something new EVERYDAY. Must be somebody buying...
Should you choose a glass half full approach, you may appreciate the share price at what I believe is a discount. I'd rather add shares at 197, than 235.