Secular drivers are not seasonal and they are not cyclical like cyclical reflation but instead exist for a long period of time. Secular trends and secular stocks are those that are expected to remain moving in the same direction over the long-term. Secular drivers often include changes in demographics, which can be an important driver for global markets and demand for technology. An example of a secular driver was the invention of the phone, and in the 80’s the internet. An example of a secular trend is the clean energy movement. Another example is the invention of CAR T therapy. Another example is Amazon and the advent of online ordering and fast shipping which is considered a secular stock as short-term economic trends have little lasting impact on its long-term performance.

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