Thanks Girish, A fair criticism. I should have mentioned that I think Gray and Carlisle's Quantitative Value (QV) is a definite buy for individual as well as institutional investors. Each chapter contains investing gems, and I highly recommend the book. Recognizing that there is no magic bullet, I would supplement QV with the Fisher Investment series on Sectors as well as with the CFA Institute industry series: http://www.cfapubs.org/toc/ind/2013/2013/1. Best, Dennis