Green Book March 1996
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Featured Articles
Big Cap Market
Big cap bias in market may be driven by increased enthusiasm for index funds. S&P becoming difficult to beat, P/E ratios of Royal Blue tiers compressing.
Bond Market Summary
Bond market was pummeled in February by weaker dollar, aggressive hedge fund selling, and Mr. Greenspan’s positive economic comments which cast doubts on further significant Fed easing.
College Student Light Bulb Jokes
Colonel Rollo Spaulding, ERP, is both a reader of and sometimes contributor to this publication. For security reasons, we have been instructed not to reveal his true identity, but I believe the ERP designation stands for Educated Renaissance Person.
Earnings Momentum Quiz
There have been some big headline earnings disappointments, but the overall earnings trend remains pretty solid for now. Based on our analysis of up earnings reports/down earnings reports, things look good. The current ratio is still indicative of a strong economy.
Leuthold Investment Strategy
With MTI turning positive, total equity exposure was increased to over 50% (now 58%) using index options to minimize and reduce risk...“new valuation era” continues...demand for U.S. equity funds continues to be key driver.
Major Stock Market Positives and Negatives
A review of the major stock market positives and negatives as Steve currently views them. There are now six major positives and four major negatives.
Major Trend Index Turns Positive
Major Trend Index now positive, after changing weight of equity fund flows. Additional changes made in technical breadth and momentum measures should increase responsiveness when the current “new valuation era” closes down.
Scanning the Markets
Performance rundown for The Leuthold Group's equity market sectors (and other measures) ranked by year to date performance.
Semiconductors...Could Be A Short Term Strategy
While we have not given up here yet, our tactical purchase of this group could be a very short term play.
Table of Contents
Stock Market
- Major Trend Index Turns Positive
- Leuthold Investment Strategy
- Big Cap Market
- Major Stock Market Positives and Negatives
Of Special Interest
Macro Monitor
Equity Strategies
At Random
Big Cap Market
Big cap bias in market may be driven by increased enthusiasm for index funds. S&P becoming difficult to beat, P/E ratios of Royal Blue tiers compressing.
Bond Market Summary
Bond market was pummeled in February by weaker dollar, aggressive hedge fund selling, and Mr. Greenspan’s positive economic comments which cast doubts on further significant Fed easing.
College Student Light Bulb Jokes
Colonel Rollo Spaulding, ERP, is both a reader of and sometimes contributor to this publication. For security reasons, we have been instructed not to reveal his true identity, but I believe the ERP designation stands for Educated Renaissance Person.
Earnings Momentum Quiz
There have been some big headline earnings disappointments, but the overall earnings trend remains pretty solid for now. Based on our analysis of up earnings reports/down earnings reports, things look good. The current ratio is still indicative of a strong economy.
Leuthold Investment Strategy
With MTI turning positive, total equity exposure was increased to over 50% (now 58%) using index options to minimize and reduce risk...“new valuation era” continues...demand for U.S. equity funds continues to be key driver.
Major Stock Market Positives and Negatives
A review of the major stock market positives and negatives as Steve currently views them. There are now six major positives and four major negatives.
Major Trend Index Turns Positive
Major Trend Index now positive, after changing weight of equity fund flows. Additional changes made in technical breadth and momentum measures should increase responsiveness when the current “new valuation era” closes down.
Scanning the Markets
Performance rundown for The Leuthold Group's equity market sectors (and other measures) ranked by year to date performance.
Semiconductors...Could Be A Short Term Strategy
While we have not given up here yet, our tactical purchase of this group could be a very short term play.
Stock Market
- Major Trend Index Turns Positive
- Leuthold Investment Strategy
- Big Cap Market
- Major Stock Market Positives and Negatives