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TREND #1 The Trends editors primarily focus on scenarios playing out over three or more years. For example, the Fifth Techno-Economic Revolution is expected to last over sixty years, having begun in 1972 and continuing into the mid-2030s. Just the current “Golden Age” is likely to run for up to 15 years, followed by up to 7 years of “Maturity.” Those who don’t recognize that secular trend are now erroneously expecting sub-par equity returns over the coming decade. On the other hand, the Trends editors foresee an era of strong performance, particularly for the stocks of companies embracing the transformative power of AI, 5G, Genomics, and the Internet of Things. As always, the dominant drivers of the economy are technology,...

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