Coming to a planet near you: $57 trillion in infrastructure investments...
INFRASTRUCTURE (think bulldozers, pipelines, power grids, etc.) has always been an important investment theme but in the past ten years it has taken on a life of it's own.
In the late 00's investment firms, management consultancies and academic institutions began talking about infrastructure as a new "asset class," like equities, fixed income and precious metals. As we did with emerging markets, managed futures and alternative investments many touted the virtues of this relatively new asset class. Wall Street loves new asset classes!
Lest you think infrastructure is "old news," just two weeks ago, the US Chamber of Commerce held it's First Annual Transportation Infrastructure Summit, Let's Rebuild America. Last week, McKinsey released an excellent piece called, Rethinking Infrastructure, which was the inspiration for this slog post.
My purpose in sharing this information, however, is not to promote (or downplay) the notion of investing in infrastructure but rather to create awareness about a mega-trend that has important implications not only for investors but for the many children and young adults who are wondering what they should be when they grow up.
Suffice to say that the career prospects for civil engineers and other professions associated with global infrastructure planning, building, etc. will be pretty bright for the foreseeable future. In short, if you know any kids who like bulldozers, they're in luck!
In summary, the global infrastructure story has significant and long-term implications for corporate executives, investors, financial professionals, parents, educators, government leaders, futurists and more. I say, CARPE FUTURO! There is no time like the present to seize the future -- especially if you are in college or early in your career...
Rethinking Infrastructure: Excellent Insights from McKinsey
Excellent Primer on Global Infrastructure as an Asset Class...
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