Which is better: top down or bottom up investing?

Many investors have lost money trying to tie their fortunes to a trend such as demographics and an aging population.
Many investors have lost money trying to tie their fortunes to a trend such as demographics and an aging population.
When we dig into it, it may not perform as well as we expect; it may carry more risks than we expect; and, there is a better way.
A high ratio of price to book value, a high price-earnings ratio, and a low dividend yield – are in no way inconsistent with a ‘value’ purchase.
Today’s FAAMGNs, that is today’s ‘vital few’, will not be the ‘vital few’ 20 years from now
It’s not that the contrary views aren’t there. We just ignore them.
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