Green Book December 1993
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Featured Articles
Bond Market Summary
The late October bond market retreat spilled over into November, as nervous investors continued to be bombarded with better than expected economic reports.
Examining Historical Earnings Growth
Based on the analysis herein, combined with the lack of earnings progress since 1988, we conclude that future earnings growth projections in our earnings model may be too conservative.
Inflation/Deflation and the Stock Market
What Has Been The Best Inflationary Environment For Stock Market Performance?...How Have Stocks Done In Deflationary Years?...121 Years Of History Examined...Also Looks At P/E Ratios In Different Inflationary Environments
Joke of the Month
Joke flow has been quite good in the last two months and this, based on the Norris Joke Indicator, may be a good omen for the December and January stock market.
Major Trend Index Slips To Neutral
Yes, there are more negative points than positive points, but the margin is not enough to be considered a sell signal. Don’t jump the gun.
Mutual Fund Focus
It appears that U.S. focus equity mutual funds suffered a mild case of net redemptions during the last half of November, but the public was back on the "buy side" by the end of the month.
Playing the Bounce Update
The Leuthold Group established an initial 9% Equity Model position in “Bounce Favorites” in mid-October. This issue, we have revised and updated our current “Bounce” list.
Scanning the Markets
A performance rundown for The Leuthold Group's equity market sectors (and other measures) ranked by November's performance.
View from the North Country
What About China?...The 7% Solution...Plan Sponsor's Future Investment Earnings Assumptions Are Too High...Some Facts About Gold
Table of Contents
Stock Market
- View from the North Country
- Major Trend Index Slips To Neutral
- Mutual Fund Focus
- Inflation/Deflation and the Stock Market
Of Special Interest
Macro Monitor
Equity Strategies
At Random
Bond Market Summary
The late October bond market retreat spilled over into November, as nervous investors continued to be bombarded with better than expected economic reports.
Examining Historical Earnings Growth
Based on the analysis herein, combined with the lack of earnings progress since 1988, we conclude that future earnings growth projections in our earnings model may be too conservative.
Inflation/Deflation and the Stock Market
What Has Been The Best Inflationary Environment For Stock Market Performance?...How Have Stocks Done In Deflationary Years?...121 Years Of History Examined...Also Looks At P/E Ratios In Different Inflationary Environments
Joke of the Month
Joke flow has been quite good in the last two months and this, based on the Norris Joke Indicator, may be a good omen for the December and January stock market.
Major Trend Index Slips To Neutral
Yes, there are more negative points than positive points, but the margin is not enough to be considered a sell signal. Don’t jump the gun.
Mutual Fund Focus
It appears that U.S. focus equity mutual funds suffered a mild case of net redemptions during the last half of November, but the public was back on the "buy side" by the end of the month.
Playing the Bounce Update
The Leuthold Group established an initial 9% Equity Model position in “Bounce Favorites” in mid-October. This issue, we have revised and updated our current “Bounce” list.
Scanning the Markets
A performance rundown for The Leuthold Group's equity market sectors (and other measures) ranked by November's performance.
View from the North Country
What About China?...The 7% Solution...Plan Sponsor's Future Investment Earnings Assumptions Are Too High...Some Facts About Gold
Stock Market
- View from the North Country
- Major Trend Index Slips To Neutral
- Mutual Fund Focus
- Inflation/Deflation and the Stock Market