Green Book January 1987
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Featured Articles
1986 Sector Retrospective
1986 full year and final quarter performance for the major sectors the Leuthold Group regularly tracks, as well as some other areas of interest we are monitoring.
1987 Starts With A Bang
Even after the excitement of early January, it still looks like a major cyclical bull market top is in progress.
Bond Market Summary
The bond market traded in a narrow range in December, but did show some spark in the first days of the new year. For most of December, it looked like the bond players took an extended vacation.
Joke of the Month
Jim Arnold, Arnold Investment Counsel in Milwaukee, gets the prize this month.
The 1987 Outlook
In this business, it is often best to conveniently forget what was said in the past. But unfortunately, when the opinions are written down and published, this does not always work. At any rate, this publication has a sometimes embarrassing commitment to full disclosure. So again, we will include our old (1986) crystal ball gazing right along with this year’s predictions.
The DJIA Was the Super Star In 1986
Current estimates are that only about 30% of the professional managers beat the S&P 500 this year, with its 18.4% total return. The DJIA produced a total return gain of 26.9%.... I wonder how many beat that?
The Historical Stock Market Impact of Corporate Tax Rate Changes
Historically, have tax cuts been a stock market positive? Have tax increases been a negative? What impact do changes in the tax rate have on prevailing market P/E multiples? The answers to these questions may surprise some of our readers.
Table of Contents
Stock Market
- View From The North Country
- 1987 Starts With A Bang
- The DJIA Was the Super Star In 1986
- The 1987 Outlook
Of Special Interest
Macro Monitor
Equity Strategies
At Random
1986 Sector Retrospective
1986 full year and final quarter performance for the major sectors the Leuthold Group regularly tracks, as well as some other areas of interest we are monitoring.
1987 Starts With A Bang
Even after the excitement of early January, it still looks like a major cyclical bull market top is in progress.
Bond Market Summary
The bond market traded in a narrow range in December, but did show some spark in the first days of the new year. For most of December, it looked like the bond players took an extended vacation.
Joke of the Month
Jim Arnold, Arnold Investment Counsel in Milwaukee, gets the prize this month.
The 1987 Outlook
In this business, it is often best to conveniently forget what was said in the past. But unfortunately, when the opinions are written down and published, this does not always work. At any rate, this publication has a sometimes embarrassing commitment to full disclosure. So again, we will include our old (1986) crystal ball gazing right along with this year’s predictions.
The DJIA Was the Super Star In 1986
Current estimates are that only about 30% of the professional managers beat the S&P 500 this year, with its 18.4% total return. The DJIA produced a total return gain of 26.9%.... I wonder how many beat that?
The Historical Stock Market Impact of Corporate Tax Rate Changes
Historically, have tax cuts been a stock market positive? Have tax increases been a negative? What impact do changes in the tax rate have on prevailing market P/E multiples? The answers to these questions may surprise some of our readers.
Stock Market
- View From The North Country
- 1987 Starts With A Bang
- The DJIA Was the Super Star In 1986
- The 1987 Outlook