Hi there,During the GFC, CSL's share price didn't capitulate. It...

Hi there,
During the GFC, CSL's share price didn't capitulate. It proved resilient whilst in that same period, CBA pretty much halved in value and MQG got smashed!

I'm not an analyst or an economist. I'm just a dude who invests spare money into the market which makes me a retail investor and I'm quite heavily invested in CSL.

Defensively, it hasn't blown up. It all comes down to your entry price. I'm still happy to own CSL shares and it's true that you could've made far greater returns elsewhere (over a given period). I'm invested in CSL because I think that they're a terrific business. There's a number of people bagging out CSL, but you'll generally find that those same people don't wish to highlight any particular stocks that they might own - particularly on these threads. They take some sort of demented satisfaction in telling people that they are wrong, but won't disclose their very own investments. Likewise, be mindful of people like myself who like the company and may display too much euphoria.

In answer to your question, I'm of the opinion that CSL would hold up well. If you're looking towards recent performance, I'd be looking at the healthcare sector from a holistic view point and understand that in general, most ASX listed health companies haven't done well in recent times. Same goes for many of those listed in the U.S. - with the exception of Eli Lilly. That's a sentiment thing based on those who live their lives on the day-to-day macro environment. The wheel will turn, and sentiment will change. Risk free money at 5%. Big whopping deal. My council rates just went up by 10% and it costs me more to put fuel in my car. Healthcare will always be a necessity and so when you mention "defensiveness" - that's what I see in healthcare for the foreseeable future. In the event of a financial crisis, I'd rather be in CSL than a bank.

But again, I'm no expert. You asked, so I've responded. If I didn't own CSL, I'd probably buy a global healthcare index fund. But I'm already in and there's no way I'm selling my shares. Your money. Your choice.

Best wishes.