With the decade drawing to a close Bank of America identified the top ten themes for investors to watch over the next ten years.
Bank of America says that globalization has already peaked, which means that over the next decade there will be a greater focus on all things local.
"Countries will develop explicit national industrial policies and boost spending on R&D to foster local innovation, protect nascent industries, and shield national champions from hostile foreign takeovers," the analysts said. "We leave the 2010s stuck in an economic regime characterized by low growth and low inflation. Real GDP has averaged just 2% in the US, 1% in the EU and Japan, and halved from 12% to 6% in China as it rebalances towards a consumer rather than export-led economy," the firm said.
To hedge against a coming recession the firm said to own things like gold and gold miners, as well as companies in monopoly areas like the utility sector since companies having pricing power even in downturns. As people age, there will also be a big opportunity for advancements in healthcare targeting lift expectancy and quality. "Immortality' may prove the most interesting secular theme in the 2020s," Israel said.Consumers are increasingly focused on the many and broad implications of climate change, which creates opportunity in areas like clean energy, electric vehicles, energy efficiency, new farming, water infrastructure and meat alternatives.
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