But as investors in such firms (A)/have learnt this year, the sector (B)/is not as risk adverse as (C)/had been widely perceived (D).
The word ‘adverse’ means ‘having a negative or harmful effect on something’. It is inappropriate here. The correct word is ‘averse’, which means ‘strongly disliking or opposed to’. But as investors in such firms have learnt this year, the sector is not as risk averse as had been widely perceived.
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