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Tech and Healthcare.
Which subsectors within Tech?
Semi, software, internet, data centers.
^ Tech, Healthcare, Industrials, or Business Services. Obviously there are verticals within each with different learning curves (i.e. biotech requires scientific expertise), but just do something you enjoy. Always market cycles and what was un-investable 5 years ago can be in-vogue today (quite true in the current environment)
Would you say there's a big learning curve for software/saas and internet? Would you need a background in cs or data science to understand names in these subsectors and generate ideas?
you dont need a lick of cs/coding/engineering/technical knowledge.
I think we are due for a HUGE run in energy.
agree with all that's going on right now
Would be cool to be insanely good at a complex sector like biotech or semiconductors
Just pick something that you're interested in and the rest will work itself out. Like others have said, don't go into the energy or commodities space today just because they're doing well in this current environment.
Data infrastructure, fintech, and consumer internet
Literally can't lose
Good point, forgot about fintech.
Can you specify what you mean by Consumer Internet?
E-commerce marketplaces are an example: Stitch Fix, Farfetch, Wayfair, Etsy, RealReal, Carvana, etc.
Fintech/payments, internet, Saas, cons disc. It's a lot to cover a couple of these spaces on your own let alone all of them
Everyone saying the same sectors (Software, healthcare, fintech, etc). I don’t disagree fwiw but wonder if overly crowded and benefits to being in a sector with fewer eyeballs / talent
Curious as well
Market is efficient that way. If fewer eyes / talent, likely it's because there is no industry tailwind and it's bad ROIC (or both).
You can make money in crowded sectors, as the market at occasions underestimates the duration of growth.
Good point. But then again, good business != good investment.
Also, I wonder if some of these sectors not as good training grounds for being a diversified PM. Vs say, starting in Industrials (cyclicality, balance sheets, leverage, capital allocation, etc.)
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