https://research-doc.credit-suisse.com/docView?language=ENG&format=PDF&sourceid=csplusresearchcp&document_id=1079753961&serialid=k52ZspRmJ5M%2fi0wTft501Txx7BR1Fx%2fXzwohPm9c9Sw%3dGLOBAL EQUITY THEMES: As part of our thematic work, we have focussed regularly on the disruption risk posed to many prevailing business models and its specific relevance for stock performance. We provide more context around the specific disruptive forces faced by each of the major industries. Our analysts provide summaries for what they see as the key disruptive forces in their industries and which companies or sub-sectors have the most sensitivity to them, whether as one of the disrupted or a source of the disruption. We argue that disruption is nothing new but that the speed, complexity and global nature of it is.