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Consider the concept of security analysis. about the fact that in theory, a bottom-up security analysis should yield the same results as top-down analysis. Yet,
Consider the concept of security analysis. about the fact that in theory, a bottom-up security analysis should yield the same results as top-down analysis. Yet, in practice, analysts conducting top-down analysis of a company A are systemically producing different results than those conducting bottom-up analysis of the same company. Name at least one reason as to why this anomaly or difference between theoretical prediction and empirical outcomes can arise? Explain your answer.
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