Green Book December 1995
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Featured Articles
A New Era—Temporarily
The U.S. stock market has entered a new valuation era. The key question now is how long it will endure. Readers still heavily committed to stocks should be extremely wary. This won’t go on forever.
Bond Market Summary
The big bond market rally continued to roll ahead in November, with yields in most bond sectors falling 20-25 basis points.
Joke of the Month
For several years now it has been our policy to disqualify all Ole and Lena jokes from this Joke of the Month competition. But, in the spirit of the Lutefisk Season there will be a temporary suspension of this no Norwegian joke policy.
Just How Good Will It Get?
Earnings and profit margins have soared since 1992. Operating earnings for the S&P Industrials are estimated at $40 here in 1995, and this estimate may prove to be conservative.
Playing the Bounce Update
Here at The Leuthold Group we are now laying some preliminary plans to “Play the Bounce”, probably initiating positions sometime after mid-December. We are particularly intrigued by some of the busted technology stocks.
Power in November
It was all there in November for the bulls, better action by secondary stocks, impressive breadth, and a strong bond market.
Scanning the Markets
Performance rundown, excluding dividends, for The Leuthold Group's equity market sectors (and other measures) ranked by November’s performance.
Technology: Battered, But Still a Leader
The game is still technology, although picking the winners and avoiding the losers is not so easy anymore. Comparing 26 Technology indices to track the sector.
View from the North Country
Public, NOT professional sentiment may be all that really matters in today's stock market environment. The dark side of 401(k)s...Can unsophisticated investors really be expected to prudently allocate assets, maintain funding disciplines, and resist the temptation to borrow against their plans?
Table of Contents
Stock Market
Of Special Interest
Macro Monitor
Equity Strategies
At Random
A New Era—Temporarily
The U.S. stock market has entered a new valuation era. The key question now is how long it will endure. Readers still heavily committed to stocks should be extremely wary. This won’t go on forever.
Bond Market Summary
The big bond market rally continued to roll ahead in November, with yields in most bond sectors falling 20-25 basis points.
Joke of the Month
For several years now it has been our policy to disqualify all Ole and Lena jokes from this Joke of the Month competition. But, in the spirit of the Lutefisk Season there will be a temporary suspension of this no Norwegian joke policy.
Just How Good Will It Get?
Earnings and profit margins have soared since 1992. Operating earnings for the S&P Industrials are estimated at $40 here in 1995, and this estimate may prove to be conservative.
Playing the Bounce Update
Here at The Leuthold Group we are now laying some preliminary plans to “Play the Bounce”, probably initiating positions sometime after mid-December. We are particularly intrigued by some of the busted technology stocks.
Power in November
It was all there in November for the bulls, better action by secondary stocks, impressive breadth, and a strong bond market.
Scanning the Markets
Performance rundown, excluding dividends, for The Leuthold Group's equity market sectors (and other measures) ranked by November’s performance.
Technology: Battered, But Still a Leader
The game is still technology, although picking the winners and avoiding the losers is not so easy anymore. Comparing 26 Technology indices to track the sector.
View from the North Country
Public, NOT professional sentiment may be all that really matters in today's stock market environment. The dark side of 401(k)s...Can unsophisticated investors really be expected to prudently allocate assets, maintain funding disciplines, and resist the temptation to borrow against their plans?