Thematic versus trend, whether investing or trading, has always intrigued me. They are similar but not the same. A trend can develop within a theme. A theme can emerge from a trend. My preference is to identify a theme, nibble on it, wait for a trend to emerge, then pounce. Some become obvious like cannabis and crypto from years past. Recently, Covid-19 became the focus. Unfortunately, I don’t see Covid-19 as a broad reaching, long lasting theme that will develop a trend. In other words, only a scant few winners will emerge from a wide group.

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