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STOCKWATCH: The church of perverse success

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Executive Summary

Is it perverse to associate highly successful sectors with the potential to reverse that success? The fact that business cycles exist is one proof that it's not perverse to associate outsized success with at least mean reversion. Another is the 2013 rise of the technology sector and the more recent decline of the PC market which has led most industry-watchers to predict a very different 2014 for technology.

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

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