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CFA Level 1 Exam
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CFA Level 1 Exam
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Question No. 1
What is the first step in a top-down equity valuation approach?
Choose the correct option from the given list.
Forecast the direction of general economy.
Select the security you think will perform best based on your economic and industry forecast.
Project the economic outlook for each industry under review.
All steps would be taken simultaneously.
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