By Shane Oliver

The stock prices of the US retailers over the past week were relegated to the marked down section of the market. Macy's, Gap and Nordstrom were all tossed into the bargain basement bin.

Whilst this was taking place the share prices of Facebook and Amazon were bouncing off record highs. Easy to say in hindsight but this entrenches and emphasises that less is more and that the Millennials are just not buying what the Boomers are selling.

Our investment theme for a long time now has been services and experiences over products and purchases.

Software over hardware and how the internet is the most deflationary force of our lifetimes as the prevalence of free and frictionless has brought about global pricing transparency and it's deflationary cousin who comes to stay and refuses to leave.

Central banks seem powerless and their efforts so far have been admirable, but largely ineffective. We live in a new world order where a connected and wireless world offers promise and potential but also fear and intervention.

As we are in uncharted territory in the middle of a storm fear, caution and trepidation reign and rule.

But the adventurous ones, the explorers who continually seek the new worlds; those who brave the seas and sight new lands of opportunity and have the long view, the ones who can look over the horizon, they are the winners and new explorers are needed.

Jeff Bezos, Mark Zuckerberg, Bevan Slattery; they look long, not short, they have an unshakeable optimism about the future and how to position for it. In the current economic tempest we need to follow people like them and hope they keep coming. 

If you can get into the loop, there is a super future ahead.