It's not easy, but it is possible, especially when you understand how economic cycles work and what investments do best in various economic phases. I wouldn't advise an investor to make the same decisions during an early bull market as I would during an early bear market. It pays off tremendously to know, from an economic perspective, where the market stands. Being an economist, I look at information technology's influence on productivity. Technology creates new products, which boost productivity and increase utility at ever-lower prices.
Technology improves productivity, which in turn improves standards of living.
To be honest, seldom if ever have investors faced such opportunity and risk regarding the Technology Revolution. But make no mistake, information technology is the fountain from which both flow. The fact is that after several starts and fits, information technology is just beginning to pay dividends. It is their products and services that are indispensable in the battle to continuously boost productivity. For example, Intel is an 'enabler' because its chips and manufacturing capability set the standard for the hardware components of the industry.