Csl is now a bargain, page-241

"In the past 2 months it was the global health care sector. In the months preceding that it would have been, I dunno, an index of global gold stocks. And before that it would probably have been an AI index. Next quarter it could be an index of lithium stocks, followed by a perhaps consumer cyclicals."

You may be right. However the Global healthcare index isn't exactly the same as sector indexes such as resources or subsectors that are driven by thematics. The Global healthcare index has been established for many years. It doesn't shoot the lights out and it probably won't blow up your portfolio either. Bottom left, top right since inception.

Just like yourself, I don't have any clairvoyant traits. You're remark about "looking in the rear view mirror is easy" may ring true. In this instance an investment in that particular global healthcare index has been decent and will probably continue to suit the needs of simplistic investors like myself. CSL is already my largest holding. I'm happy to allocate some money into an index fund if I feel that it will still be relevant well into the future and is a fund that is less exposed to cyclicality and doesn't rely on China. There's some index funds out there that have very good track records. I get that Hotcopper is designed to be stock specific. With a mix of individual stocks and a portfolio that holds good index funds, there is no reason why an individual can't outperform the broader market. Holding PME is one example of a stock that's delivered returns to die for. But when/if the music stops, I'm also happy to be holding my boring basket of global healthcare leaders. Horses for courses. I don't have your intellect, so I stick to what I know and understand and I'd rather be outside doing life.