Don't Blame Your Company's Poor Performance on Its Industry
Harvard Business Review
APRIL 30, 2013
It was just lousy timing if you happened to be in one of these industries, which were all in the bottom quartile of total shareholder returns (share price change plus dividends paid) in the 10 years through 2012. Indeed, our study shows that the biggest variations in TSR are not between industries but within them. Perhaps by a lot.
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