Module 5 - Sectors and Investment Strategies
Sectors and Investment Strategies
The motto of this module is:
“One must not succumb to the idea that it is certain that one industry will outperform all others in the future” - Benjamin Graham
What is Graham telling us with this?
We must not assume that an industry will maintain superior performance indefinitely just because it is currently showing good results. It is necessary to analyse whether those advantages are sustainable and not to be carried away by widespread expectations.