Which Industries Have Grown the Most Over the Past Two Years?
Some of the strongest market themes of the past two years were not only the obvious headline winners like AI chips, but also the industries supplying the electricity, cooling, memory, cybersecurity, defense systems, uranium, and healthcare infrastructure behind major structural changes. This article explores those second-order winners, the “picks and shovels” approach to investing, and why a fast-growing industry can still become a poor investment when expectations and valuations run too far ahe
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