I enjoy reports on social trends and demographic data. The information shapes my view on megatrends and informs some long-term stock selections.
Megatrends, of course, are well known to the market and usually reflected in fulsome stock prices. Also, top-down trends are only part of the puzzle; assessing companies and valuations on a case-by-case basis is key. Megatrends have a habit of seducing novice investors.
Still, the market too often underestimates the power and duration of megatrends. Often, stocks leveraged to powerful social, demographic or technology themes are overhyped and their valuations overshoot. When their earnings disappoint, the stock is dumped.