... exchange rate, etc 87 Investment Analysis and Portfolio Management The Industry analysis includes the examining of the nature of the industry, the level of regulation inside this industry, the situation ... first involved in making the analysis and forecast of the economy, then for industries, and finally for companies Using “bottom-up” forecasting approach, the investors start with the analysis and ... average dividend income Analysis of economic forecasting Investors by forecasting changes in the macro economy and in interest rates endeavor to decrease the investment in stocks in the phases of...