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Historic evaluation of the cycles since 1962 exhibits that the relative efficiency of equity market sectors has tended to rotate as the overall financial system shifts from one stage of the business cycle to the following, with different sectors assuming efficiency management in numerous financial phases.1Ã‚Â On account of structural shifts in the economic system, technological innovation, numerous regulatory backdrops, and different factors, no one sector has behaved uniformly for each business cycle.
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