top-down investing

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Top-Down Investing

An investment philosophy that considers macroeconomic factors. When making investment decisions a top-down investor first considers the broad condition of the economy, then factors affecting specific industries expected to outperform the economy, and, finally, individual companies expected to do the best in those industries. Proponents of top-down investing argue that it identifies good companies more efficiently, while critics contend that it does not let the investor know the details of each specific stock. See also: Bottom-up investing.

top-down investing

Making investment decisions by first focusing on economic forecasts and then evaluating prospects for individual industries and companies. Compare bottom-up investing.
References in periodicals archive ?
TBVAC2020 proposes to achieve this by combining creative bottom-up approaches for vaccine discovery (WP1), new preclinical models addressing clinical challenges (WP2) and identification and characterisation of correlates of protection (WP5) with a directive top-down portfolio management approach aiming to select the most promising TB vaccine candidates by their comparative evaluation using objective gating and priority setting criteria (WP6) and by supporting direct, head-to head or comparative preclinical and early clinical evaluation (WP3, WP4).
Particularly Germans, that our firm is dealing with, had aleady established their "game plan" in 1991, by focusing not only on bottom-up but also on top-down portfolio analysis.
Portfolio leaders can now leverage CA PPM s top-down portfolio scenario planning, financial management and resource management capabilities with VersionOne s high-level feature planning, project definition and work item management capabilities.
Particularly Germans, that our firm is dealing with, had already established their "game plan" in 1991, by focusing not only on bottom-up but also on top-down portfolio analysis.