This document discusses the differences between trends and fads. It states that trends have longer lifespans, can influence markets for years or decades, and involve altered classics. Fads, on the other hand, are short-lived passing enthusiasms that last only a season or less and are novelty driven. Examples of trends include social networking sites, denim jeans, and business process outsourcing. Fads include Loombands, ALDUB, and gadgets. The document emphasizes that while engaging in fads can be fun, trends are more worthy of significant investment of time and money.