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TWST: You've written about the positive fundamentals for the drug chains, and the fact that these fundamentals have not really been appreciated by the market. Why is that?

Mr. Russo: I think healthcare stocks in general have been ignored over the last 12 months. And I think the reason for that is twofold: number one, obviously the market has been focused on tech and, compared to tech, even health care takes a back seat; secondly, we're in an election year now, and I think people were afraid, going into this year of politicians' talk about price controls on prescription-drug prices or other areas of health care, so there were some overall worries there. But the big reason, I think, is just that people focused on tech. Now, here in the last week we've had the healthcare stocks doing a lot better. People are understanding that the fundamentals in the healthcare area are outstanding, so over time, this sector will be rewarded. People will recognize there are a lot of good things going on -- and of course, our aging population doesn't hurt those trends!

TWST: What are you telling investors? What should they do with the stocks? And do you still have a buy on CVS (NYSE:CVS)?

Mr. Russo: We have a neutral rating on CVS.

TWST: What caused you to move from a buy to a neutral on CVS?

Mr. Russo: Well, we did that last fall. And to be quite honest with you, there was really not a huge rationale for that, just that the group was being pummeled, people were disinterested, and I could tell that the situation was not going to correct itself for a while. As it turned out, we were right, because six months later, and until the last couple of days, these stocks were down a lot more than they were at that point. So it was a strange rating change, nothing specific with the companies. I just threw up my hands and said, “I'm going to take a breather right now on these names, given the negative momentum working against these stocks.” So that was the reason for that. I think CVS is a close second, but Walgreen (NYSE:WAG) is ahead of them in terms of technology implementation. In terms of the real estate program, they're also ahead of CVS.