How well a sector as a whole does is practically irrelevant for what return on investment a investor gets by investing in said sector.
A sector can shrink from 63% of the total market to less than 1% and outperform the market over the time that happened. See the US railway sector from 1900 to 2020:
A sector can shrink from 63% of the total market to less than 1% and outperform the market over the time that happened. See the US railway sector from 1900 to 2020:
https://www.credit-suisse.com/media/assets/corporate/docs/ab...