"In Australia, renewable energy is growing at a per capita rate ten times faster than the world average. Between 2018 and 2020, Australia will install more than 16 gigawatts of wind and solar, an average rate of 220 watts per person per year."
And?
Just because a certain industry or economic sector is expanding, doesn't mean that it is necessarily wise to invest in companies participating in that industry/sector.
For example, the sector might be so hyped that the valuations of the businesses operating in it are excessive.. witness the listed lithium sector over the past two years; the value destruction in that sector has been eye-popping.
(As an aside, Tesla is another case in point; very hot stock, in the "right" industry, but I think there is a real risk that the value of Teva equity ends up being worthless - or close to it - in a few years time.)
Conversely, it is not necessarily a dumb thing to never invest in static or "smokestack" industries/sectors. Because very often, it is because these sorts of sectors are perceived by the investing herd to be unexciting, that the companies therein tend to be unloved and discarded, resulting in some deeply undervalued companies to be found.
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CSL Price at posting:
$236.69 Sentiment: Hold Disclosure: Held
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