What would leading fund managers not give to have an answer to the question!!! Actually the fill it shut it and forget it investment style is a myth. And sectors are not only changing, they are evolving and new ones are coming out all the time.
Let’s take the example of tech. Sometime, not so long ago, the tech was a sector and generally associated with the hardware part of the business. Think IBM
Then it splintered and became software. Think MS.
Then it became “service providers”. Think Cognizant.
Then it became tech-enabled services. Think Google
Then it has become tech-enabled platforms. Think Amazon
The above is to show the extent of changes which are happening in a sector with new sectors emerging within them. Very few would be an all-weather performer like google or MS. But that gives you an idea of how rare it is to have an investment continue over such a long time frame and specially so in a world that is evolving so fast that segments are vanishing and new ones being invented all the while.
I f I was to have a pick for the next tech money-spinner, I would ask u=you to look for tech-enabled medical services. Very soon, I am told doctors would be irrelevant for administering medicines, diagnosing and operating. Who would do these jobs. The tech companies, of course, embedded into these services.
An interesting story someone wise shared with me quite some time back. He said, always have a civil engineer in the family…..people would always need experts to dig and fill up………with malice towards none of course.