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By Karen Dolan, CFA | 07-28-2009 02:25 AM

Picking Carefully in Health-Care and Retail

Mainstay Large Cap Growth subadvisor Clark Winslow discusses the fund's positions in consumer and health-care stocks given the economic and policy head winds.

Karen Dolan: I find it very interesting, your moves in energy and also your moves in health care. You mentioned policy coming out of Washington. Well, we've definitely seen a lot more on the health-care front, and you've been reducing your health-care weight. I think you used to be quite a bit overweight for the past several years and now you're at an underweight position. What have you been selling? Is it related to the policy moves in Washington?

Clark Winslow: Well basically, yes we have been overweight, and it's been helpful to our performance attribution. We have tried to focus actually for some years in the companies that we think are more the providers to the solution to the health-care problem and costs.

We've been focused on the ... pharmacy benefit management companies such as Medco Health, Caremark/CVS, and in the generic area, Teva which by the way set an all time high today after they announced earnings and their outlook.

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