outdated, conceptual portion of the book is ok but only the first 20 pages of the book. The remainder is specific to market conditions in 1995.

Now that I know exactly what it is, sector investing isn't the most appealing strategy. I'm sure there is some solidity to the approach (knowing the pattern of each sector within the business cycle and, with that explaining 60% of the comprised firms' performance, then expanding to pick a few top players within that sector), but if the approach is really that exact, the free flow of information should have the prices adjust accordingly. What I did find particularly useful was the pattern of volatility for industries. That is something to consider. Within a single standard deviation, food would range from .1% to 40% performance over the long time period covered. The other consideration with this as a strategy is that sectors do change over time. If nothing else, I still consider it valuable to allocate across sectors for tracking and diversification. ( )