The New World Order

At least half of these supposedly impregnable companies have either gone out of business or been acquired by others. Words like stable, defensive and mote will be less relevant in the future. Much of investing will require more technological experts than it did in the past. And investments made on the assumptions that to morrow will look like yesterday must be subject to vastly increased scrutiny. Increasingly us business is virtual, digital and information-orientated. These elements will have a profound impact on which legacy businesses will survive - and which newcomers will supplant the incumbents.