Green Book February 1987
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Featured Articles
A Look in the Rearview Mirror
Self-examination is always good for the soul, so each year, time is taken to look back over the preceding year or so, critically reviewing the significant studies, portfolio shifts and recommendations appearing in this publication. Including where we were right....and where we were wrong.
A Really BIG Month
In January, our Major Trend Index, employed to assess the overall health of the stock market, has jumped around like some short-term oscillator.
Benchmarks……Intrinsic Value
It has been only two months since we last published our “Histographs” covering stock market P/E’s, dividend yields and book value ratios. But, 1987 estimates are now included and of course, the stock market has made a big move. It is time for an update.
Bond Market Summary
No, we do not expect to see inflation over 3% by the end of 1987 or even in 1988. Actually, deflation seems more probable. But from the bond and stock market investors’ standpoint in coming months, inflation perceptions are expected to become more important than reality.
Fearless Forecasts…. 1987
Each year, along about February, this publication makes a series of “Fearless Forecasts,” frivolous flights of foolishness and fantasy that sometimes come remarkably close to reality.
Inflation Sensitive Sector
Inflation sensitive issues are being added to our equity model as a distinct theme, a new tactical play. Although we are not projecting a significant pickup in inflation in 1987, we are coming to believe that Wall Street will mistakenly believe inflation is re-igniting.
Joke of the Month
This month’s joke comes from friend Walter Deemer, a former technician for Jerry Tsai, former technical analyst at Putnam, and currently providing his technical letter and opinion to a number of major institutions.
Sector Leaders and Laggers
Overall results for the month indicate Technology was the place to be, but most of the big technology gains came in the first half of the month.
View from the North Country
A raging stock market, two Interim Memos in a single month, the Major Trend Index jumping up and down like a short-term trading tool, January was quite a month around here.
Table of Contents
Stock Market
- A Look in the Rearview Mirror
- Fearless Forecasts…. 1987
- View from the North Country
- A Really BIG Month
Of Special Interest
Macro Monitor
Equity Strategies
At Random
A Look in the Rearview Mirror
Self-examination is always good for the soul, so each year, time is taken to look back over the preceding year or so, critically reviewing the significant studies, portfolio shifts and recommendations appearing in this publication. Including where we were right....and where we were wrong.
A Really BIG Month
In January, our Major Trend Index, employed to assess the overall health of the stock market, has jumped around like some short-term oscillator.
Benchmarks……Intrinsic Value
It has been only two months since we last published our “Histographs” covering stock market P/E’s, dividend yields and book value ratios. But, 1987 estimates are now included and of course, the stock market has made a big move. It is time for an update.
Bond Market Summary
No, we do not expect to see inflation over 3% by the end of 1987 or even in 1988. Actually, deflation seems more probable. But from the bond and stock market investors’ standpoint in coming months, inflation perceptions are expected to become more important than reality.
Fearless Forecasts…. 1987
Each year, along about February, this publication makes a series of “Fearless Forecasts,” frivolous flights of foolishness and fantasy that sometimes come remarkably close to reality.
Inflation Sensitive Sector
Inflation sensitive issues are being added to our equity model as a distinct theme, a new tactical play. Although we are not projecting a significant pickup in inflation in 1987, we are coming to believe that Wall Street will mistakenly believe inflation is re-igniting.
Joke of the Month
This month’s joke comes from friend Walter Deemer, a former technician for Jerry Tsai, former technical analyst at Putnam, and currently providing his technical letter and opinion to a number of major institutions.
Sector Leaders and Laggers
Overall results for the month indicate Technology was the place to be, but most of the big technology gains came in the first half of the month.
View from the North Country
A raging stock market, two Interim Memos in a single month, the Major Trend Index jumping up and down like a short-term trading tool, January was quite a month around here.
Stock Market
- A Look in the Rearview Mirror
- Fearless Forecasts…. 1987
- View from the North Country
- A Really BIG Month