Green Book April 1982
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Featured Articles
Birth of the Bull
The stock market appears to have made a cyclical bear market low. The Early Warning Index of market bottoms, which turned Positive last issue (Feb. 26) has been confirmed by a move from Neutral to Positive by Major Trend Index. Equity earmarked funds should be put to work now.
How Much Upside for Stocks?
Combining historic P/E multiple levels based on various inflation environments, with “normalized” earnings for S&P 500 and DJIA, twelve-month potential for DJIA could be 1177, 151 for S&P 500. More realistic level might be 1115 for DJIA and 143 for S&P 500. However, Bonds might well provide even greater total return.
The Early Warning Index
Several clients have requested more information concerning the “Early Warning” Indices, employed by us to provide insight into developing market tops and bottoms. Here is most everything you might have ever wanted to know about that work, and more, including all “signals” since inception.
View from the North Country
Spring has come to Minnesota (kind of) and The Leuthold Group finds it has made some errors in one of its historic inflation charts. A corrected version in included.
Table of Contents
Stock Market
Of Special Interest
Birth of the Bull
The stock market appears to have made a cyclical bear market low. The Early Warning Index of market bottoms, which turned Positive last issue (Feb. 26) has been confirmed by a move from Neutral to Positive by Major Trend Index. Equity earmarked funds should be put to work now.
How Much Upside for Stocks?
Combining historic P/E multiple levels based on various inflation environments, with “normalized” earnings for S&P 500 and DJIA, twelve-month potential for DJIA could be 1177, 151 for S&P 500. More realistic level might be 1115 for DJIA and 143 for S&P 500. However, Bonds might well provide even greater total return.
The Early Warning Index
Several clients have requested more information concerning the “Early Warning” Indices, employed by us to provide insight into developing market tops and bottoms. Here is most everything you might have ever wanted to know about that work, and more, including all “signals” since inception.
View from the North Country
Spring has come to Minnesota (kind of) and The Leuthold Group finds it has made some errors in one of its historic inflation charts. A corrected version in included.