The adage with investing is ‘stick to what you know.’ In my opinion, it’s just a nice thing to say. The smarter investors I know will adjust their strategies to changing market conditions and cultural shifts. One of the big cultural shifts I have seen that has remained post-pandemic is that people are much more focused on entertainment and self-gratification. This would explain things like car sales dropping and restaurants remaining full for example.
Entertainment tastes may have changed due to the pandemic. In contrast to the trend toward digital and remote entertainment, live, in-person encounters are gaining popularity. The post-pandemic concentration on entertainment reflects these new habits and a desire to reconnect with pre-pandemic activities.
