Why Thematic Investment Strategies Hit a Wall

Investing around themes like innovation or emerging economies often underperforms in the long run. Here’s what works instead.

Stephen Foerster
8 min readMay 23, 2022

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Photo by Mick Haupt on Unsplash

In November 2001, Jim O’Neill, Head of Global Economic Research at Goldman Sachs, published an influential research report titled “Building Better Global Economic BRICs”, coining…

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Stephen Foerster

I’m a Finance prof, CFA, and author of In Pursuit of the Perfect Portfolio (with Andrew Lo). I write stories about investing. (I don’t give financial advice.)