Green Book April 1984
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Featured Articles
Bond Market Summary
T-Bonds broke the August 1983 lows, but municipals and corporates seem to be holding. Pessimism is rampant. Investors should consider buying T-Bonds now. The biggest risk may now be not owning bonds. Positive action on the deficit could kick off a large rally.
Inside the Stock Market
The Major Trend Index remains in “neutral,” but it appears the correction lows may have been seen around 1120, DJIA. Our “Early Warning” work remains constructive.
Is It Time to Load Up on Quality Growth Stocks?
Two of our specialized evaluation tools are examined. The Royal Blue Index relative valuation work indicates the higher P/E quality growth issues are now undervalued compared to institutional low P/E favorites. But our Growth Vs. Cyclical timing studies seems to be telling us a major move into these quality growth issues still might be somewhat premature.
Updated Screens: High Growth, “Cheap” Growth and…..“Undervalued”
We have just updated three of our quantitatively screened sectors, “Consumer High Growth Stocks,” “The Growth Bargain Basket” and the “Undervalued & Unloved.” A great number of new stocks have qualified. This section describes the screens, presents the past performance and lists the additions and deletions for each.
View from the North Country
The clock is ticking down, but we don’t know when the upside explosion will take place. It might even occur before the 1984 elections. Whatever, the investment rewards will be rich indeed. Should investors really run the risk of being out of the bond market? Really, the downside risk, considering the earning power of the coupons, is probably negligible. But the potential rewards are mouthwatering.
Table of Contents
Stock Market
Of Special Interest
Macro Monitor
Equity Strategies
Bond Market Summary
T-Bonds broke the August 1983 lows, but municipals and corporates seem to be holding. Pessimism is rampant. Investors should consider buying T-Bonds now. The biggest risk may now be not owning bonds. Positive action on the deficit could kick off a large rally.
Inside the Stock Market
The Major Trend Index remains in “neutral,” but it appears the correction lows may have been seen around 1120, DJIA. Our “Early Warning” work remains constructive.
Is It Time to Load Up on Quality Growth Stocks?
Two of our specialized evaluation tools are examined. The Royal Blue Index relative valuation work indicates the higher P/E quality growth issues are now undervalued compared to institutional low P/E favorites. But our Growth Vs. Cyclical timing studies seems to be telling us a major move into these quality growth issues still might be somewhat premature.
Updated Screens: High Growth, “Cheap” Growth and…..“Undervalued”
We have just updated three of our quantitatively screened sectors, “Consumer High Growth Stocks,” “The Growth Bargain Basket” and the “Undervalued & Unloved.” A great number of new stocks have qualified. This section describes the screens, presents the past performance and lists the additions and deletions for each.
View from the North Country
The clock is ticking down, but we don’t know when the upside explosion will take place. It might even occur before the 1984 elections. Whatever, the investment rewards will be rich indeed. Should investors really run the risk of being out of the bond market? Really, the downside risk, considering the earning power of the coupons, is probably negligible. But the potential rewards are mouthwatering.