As next-gen breakthroughs disrupt the industrial status quo in the coming years, investors should zoom out and look at things through a long-term lens.

Conventional financial analysis often involves formulating projections and forecasting future returns, and then assigning a valuation based on those estimates. This usually assumes no major structural changes in the external forces that shape the economic and business landscapes. In 2017, in a challenge to that approach, RBC Capital Markets embarked on a six-month study of the global drivers of extreme transformative change. A fairly large number of “change forces” were identified that RBC Capital Markets’ analysis suggested would catalyze a metamorphosis of the world around us. These were laid out in some detail in a subsequent report entitled Imagine 2025.

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