Correct answer is option 3
Question No: 42 ( Marks: 1 ) - Please choose one
The top-down approach to security selection is LEAST likely to include:
► Analysis of the global & national economic environment
► Use of financial ratios & cash flow analysis to compare firms within the industry
► Determination of the stability of securities for an investor's portfolio (100%)
► Identification of the industry effects of changes in demographics, lifestyles, politics etc
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