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Which of the following is a reason to be cautious when using the Industrial Life Cycle to choose securities? The Life Cycle describes only 4

Which of the following is a reason to be cautious when using the Industrial Life Cycle to choose securities?

  1. The Life Cycle describes only 4 stages

2. A specific company may not be in the same stage as its industry

3. Some industries never get out of the pioneering stage

4. Investors can profit from all four stages

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