The shift in immigration patterns offers clues about where you could expect to see long-term growth and a sector you might want to be overweight in your portfolio: health care. Last wrote, "We have a giant group of people entering their later years and these people are going to need a lot of health care." For example, Last noted that in Japan, which has an older population than the U.S., more adult diapers are sold than baby diapers.
The easiest way to skin the health-care cat is the Health Care Select SPDR ( XLV). It has been on a tear. It is up 15.7% year-to-date and 24.7% over the last year. That compares with the S&P 500's return of 10.6% year to date and 13.8% over the past year. performance of 10.6% year to date and 13.8% over the past year. If you think the aging trend will morph into a wellness craze you might consider looking at Nu Skin Enterprises ( NUS), United Natural Foods ( UNFI) and Whole Foods ( WFM). If you believe in Last's thesis, they represent a logical place to look for growth. At the time of publication, the author held no positions in any of the stocks mentioned. Clients of the Cordasco Financial Network may or may not own the securities mentioned.This article was written by an independent contributor, separate from TheStreet's regular news coverage.