Green Book February 1989
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Featured Articles
All Our Systems Are Still “Go”
After a 300-point move in the DJIA in a little over two months, a number of observers view the market as “overbought”. However, we see no significant evidence among our indicators that supports this opinion.
Bond Market Summary
This is indeed a strange environment, where higher short-term rates in effect have become a bond market positive. High short rates cool the economy and keep the dollar strong. Both of these consequences are bond market positives.
Joke of the Month
Today it is 23 degrees below zero here in The North Country. It seems like an appropriate time to include one of Walt Deemer’s lousy jokes. I suspect it is an original.
Scanning the Markets: The Best and Worst of January
For the month of January, the S&P 500 gained 7.1% and the DJIA was up 8%. The Russell 2000, a good measure of secondary stocks, gained a lagging 4.4%. Not much beat the DJIA in January.
Secondary Stocks and Secondary Stock Measures
For years we have been searching for better measures of secondary stock activity. When the new Russell 1000, 2000 and 3000 indices were developed we thought our search was over. Despite some criticism of the Russell indices, we still think this index gives the best representation of secondary stock action.
The Investment Case for New Zealand Stocks
By traditional measures, the New Zealand stock market is the most undervalued market in the developed world. As of this issue we are incorporating a 6% package of New Zealand stocks into our asset allocation models, both the conventional and the unconventional.
View from the North Country
The Investment Case for New Zealand Special Study...BenchMarks Is (Finally) Coming...Social Security or Insecurity...Golden Fleece Awards...Copper Traders Anonymous
Table of Contents
Stock Market
Of Special Interest
Macro Monitor
Equity Strategies
At Random
All Our Systems Are Still “Go”
After a 300-point move in the DJIA in a little over two months, a number of observers view the market as “overbought”. However, we see no significant evidence among our indicators that supports this opinion.
Bond Market Summary
This is indeed a strange environment, where higher short-term rates in effect have become a bond market positive. High short rates cool the economy and keep the dollar strong. Both of these consequences are bond market positives.
Joke of the Month
Today it is 23 degrees below zero here in The North Country. It seems like an appropriate time to include one of Walt Deemer’s lousy jokes. I suspect it is an original.
Scanning the Markets: The Best and Worst of January
For the month of January, the S&P 500 gained 7.1% and the DJIA was up 8%. The Russell 2000, a good measure of secondary stocks, gained a lagging 4.4%. Not much beat the DJIA in January.
Secondary Stocks and Secondary Stock Measures
For years we have been searching for better measures of secondary stock activity. When the new Russell 1000, 2000 and 3000 indices were developed we thought our search was over. Despite some criticism of the Russell indices, we still think this index gives the best representation of secondary stock action.
The Investment Case for New Zealand Stocks
By traditional measures, the New Zealand stock market is the most undervalued market in the developed world. As of this issue we are incorporating a 6% package of New Zealand stocks into our asset allocation models, both the conventional and the unconventional.
View from the North Country
The Investment Case for New Zealand Special Study...BenchMarks Is (Finally) Coming...Social Security or Insecurity...Golden Fleece Awards...Copper Traders Anonymous