It’s no secret that we are bottom up investors. That is because we find trend investing to be a difficult endeavour, and we would like to share why. What is trend investing? Some people prefer to invest based on what they think the next big thing will be. For example, if they conclude that the future lies in big data analytics, they will invest in a company that does big data analytics. However, we believe there are numerous intricacies which tend to be overlooked. Demand-centric conclusion More often than not, the premise of one’s conclusion that a product will be the next big thing is often demand-centric. That is, they assume just because everyone will be using that product 10 years for now, the company/industry will be a definite investing homerun. There are certainly instances when that is true, just look at Microsoft and Coca-Cola. However, the same logic applied ......