“This is a key step, as one can isolate the best companies in the most attractive sectors and invest accordingly. A company can have great fundamentals in and of itself, but be in a very difficult sector or industry that we decide to avoid. Remember that 65% of the performance of stocks is sector-related - not fundamentals. This combination of stock fundamental analysis and sectors is essential to knowing which stocks to embrace and buy, as well as which to avoid or sell. p181”