select all true statements the maturity stage of the industry life cycle is by far the most risky firms in a mature industry do not experience growth at its origin, a new industry is characterized by firms that seek capital and invest in research and development the first stage of industry life cycle is characterized by low risk Question 2 select all true statements shifts in the business cycle can be easily forecasted across the business cycle, some sectors tend to outperform the others the key to a successful sector rotation strategy is the correct forecast of the business cycle sector rotation involves overweighting sectors that are expected to outperform and underweighting the others "utilities" is an example of a defensive sector