Biotech -- and healthcare more generally -- got caught in the crossfire during the 2016 presidential election. A tweet from Hillary Clinton in September 2015 about "price gouging" caused the sector to sell off.
It has recovered somewhat -- the IBB is up 17% since Donald Trump's win in November -- but it's still down 23% from its all-time intraday high in July of 2015.
Link, whose firm TIAA manages $882 billion dollars, thinks the current administration could be positive for health care.
"Washington is not as harsh right now on the pricing front...and if you get any kind of tax plan, they [biotech companies] certainly benefit," she said on the "Halftime Report."
As a value investor, Link's strategy is to find companies with solid fundamentals that the market is underpricing -- and she believes many of the IBB's components fit the bill.
"You've got growth at a reasonable price...I feel like you're going to get M&A, the balance sheets are strong...I like the risk/reward here."
On Tuesday the IBB hit a new 52-week high.
Trader disclosure: Stephanie Links owns the IBB.