Green Book March 1987
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Featured Articles
Bond Market Summary
The bond market surprised a lot of the players in February. When the T-bond futures broke 98 around mid-month, a number of traders thought it was the beginning of a significant decline. But, as you may recall from last month, this publication did not feel such a breakdown would be significant.
Client Questions
Recently, the majority of questions have, not surprisingly, concerned the liquidity driven market thesis. In second place are questions relating to today’s market and 1929.
Focus: Intrinsic Value Benchmarks
Updated histographs of P/E multiples, book value ratios and yields are presented this issue, as well as a new histograph of cash flow ratios.
Getting Defensive……Right Now
Our Major Trend Index, after remaining neutral for all of February, shifted into negative territory with the March 2 calculation. Immediate defensive action is being taken in our two asset allocation models.
Joke of the Month
A last-minute entry from academia wins this month’s competition. It is recognized that a number of our readers are sensitive about and tired of Yuppie jokes, but this obviously is not the case in Colorado Springs.
The Financial Department Store Revisited….Where Are All The Stockbrokers?
Several years ago, this publication raised a number of questions concerning the validity of the then trendy concept of the “financial department store”. Today, some of these grand synergies seem to be coming apart. Did it all ever make much sense? And where have all the real stockbrokers gone?
The Stock Market in February
The S&P 500 gained 3.7% in February, the DJIA 3.1%, but the majority of market sectors outperformed these benchmarks. Secondary stocks, especially technology issues, moved well ahead of the popular averages in the last half of the month.
View from the North Country
Money: The Report Card of Life…An Interesting New Market Index from Frank Russell and Company…Fearless Forecast - And You Thought We Were Kiddin’
Table of Contents
Stock Market
- View from the North Country
- Getting Defensive……Right Now
- The Stock Market in February
- Client Questions
- The Financial Department Store Revisited….Where Are All The Stockbrokers?
Of Special Interest
Macro Monitor
At Random
Bond Market Summary
The bond market surprised a lot of the players in February. When the T-bond futures broke 98 around mid-month, a number of traders thought it was the beginning of a significant decline. But, as you may recall from last month, this publication did not feel such a breakdown would be significant.
Client Questions
Recently, the majority of questions have, not surprisingly, concerned the liquidity driven market thesis. In second place are questions relating to today’s market and 1929.
Focus: Intrinsic Value Benchmarks
Updated histographs of P/E multiples, book value ratios and yields are presented this issue, as well as a new histograph of cash flow ratios.
Getting Defensive……Right Now
Our Major Trend Index, after remaining neutral for all of February, shifted into negative territory with the March 2 calculation. Immediate defensive action is being taken in our two asset allocation models.
Joke of the Month
A last-minute entry from academia wins this month’s competition. It is recognized that a number of our readers are sensitive about and tired of Yuppie jokes, but this obviously is not the case in Colorado Springs.
The Financial Department Store Revisited….Where Are All The Stockbrokers?
Several years ago, this publication raised a number of questions concerning the validity of the then trendy concept of the “financial department store”. Today, some of these grand synergies seem to be coming apart. Did it all ever make much sense? And where have all the real stockbrokers gone?
The Stock Market in February
The S&P 500 gained 3.7% in February, the DJIA 3.1%, but the majority of market sectors outperformed these benchmarks. Secondary stocks, especially technology issues, moved well ahead of the popular averages in the last half of the month.
View from the North Country
Money: The Report Card of Life…An Interesting New Market Index from Frank Russell and Company…Fearless Forecast - And You Thought We Were Kiddin’
Stock Market
- View from the North Country
- Getting Defensive……Right Now
- The Stock Market in February
- Client Questions
- The Financial Department Store Revisited….Where Are All The Stockbrokers?