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Further Tests of the Validity of the Industry Approach to Investment Analysis

Journal of Financial and Quantitative Analysis 1971 6(2), 835
Investment literature, particularly materials made available to investors by financial magazines, brokerage houses, and investment services, places a great deal of stress upon analysis of investment opportunities by industry groups. Examples are industry analyses, such as those of Forbes and Financial Analysts Journal, as well as the industry segregations of popular services such as Value Line, Standard & Poor's and Moody's.