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The media can be a good source of information as they regularly report on new trends – the skill here is to find long-term opportunities as opposed to short-term fads.
But instead of making fundamental shifts in their behaviour, they are giving into short-term fads, such as offering gluten-free items or removing ingredients deemed to be unhealthy.
But perhaps that is the big idea to come out of the current downturn: that good management is not a matter of adopting short-term fads, but of managers being consistently honest, frugal and prepared over the longer term.
The bull market that followed established a new way of doing business that benefited from short-term fads and "silver-bullet" product cycles: tax shelters, 401(k) plans, 529 college funds, target-date funds, Monte Carlo simulations, and so on.
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Nor is this a short-term fad.
When the transition from new idea to popular style happens in a matter of months, the look is usually considered a short-term fad.
Stick with it: Exercising more often should not be a short term fad but more of a lifestyle.
CoolBrands spokesman Stephen Cheliotis said: "The idea that CoolBrands is about fads and short-term reputational success is ripped apart by the solid performance and dominance of regular top 20 brands such as Aston Martin, Chanel and Nike.
What diet fads have given us are short-term losses and long-term gains because few if any of them emphasize a key fact: If you consume more calories than you expend, you will gain weight.
Fad diets that eliminate one foodstuff, such as carbohydrate or protein, may give short-term results but fail in the long term to maintain the weight loss.
It was short-term.
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