Every decade or so, investors are told to heed a new megatrend, whose chief appeal is, well, its newness.rnIn the '90s, investors were sold on the notion of a New Economy that wasn't subject to the old laws of gravity and, among other things, could support higher stock valuations. And one of the best - selling investing books of the past de -cade was The New Investment Superstars, a tome thatrncanonized a new breed of fund wizards, some of whom later proved to be mortal. Now comes the latest investment fad, the "new normal," the idea championed by Pimco bond guru Bill Gross that the U.S. has entered a period of diminished expectations that requires investors to rethink their long love affair with stocks.
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