Tuesday 17 July 2012
Cenkos News - The Convergence Trade
The convergence trade is the largest and, arguably, most long-term trend that influences our investment research and analysis. There are now officially over 7 billion people in the world. The 1.5 billion of us considered "wealthy" are (sadly and unfortunately) offset by the 1.5 billion people in poverty whose situation is worsening. However, for the purpose of this article our focus is on those in between - the 4.5 billion emergent consumers aspiring to a lifestyle that is rapidly converging on the West. The companies that create and sell the items and services that those 4.5 billion people want to obtain are the investments to which we, as investment managers, wish to have exposure.
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