Green Book April 2001
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Featured Articles
April Is The "Opportunity" Month
Bear market broadened out in late March to include other than technology sectors. Never before have so many lost so much.…There is plenty of blame to go around. Academia, The Street, the Media, the “Experts” to name a few.
Bond Market Summary
Overall inflationary pressures subsiding, but expect a few more energy related flare ups.
Capitalization Tier Meausres
Continuing to evaluate Leuthold Index methodology.
Insider Block Measures...Looks Like Insiders Were Right
In the last ten weeks, a total of $9.8 billion of big block net insider sales have occurred.
Internet Debacle Index
Last month, we changed the name of this group. After a bounce in January, the “Internet Debacle Index” continued its freefall.
March Mutual Fund Flows: Net Redemptions In March
U.S. focus equity fund net redemptions of $11 billion are estimated for March.
Market Breadth Update
Despite the market’s weakness in March, the breadth experienced some deterioration in the last half of the month.
NASDAQ Performance In Longer Term Perspective
How have sharp declines of the past year affected performance over longer time horizons?
New Select Industries Holding…..Building Portfolio Position In Construction & Engineering
Upgrade to Attractive for April led us to this mid/small cap flavored group. Current GS score bolstered by strengthening Value and Judgmental related factors. Group fundamentals should benefit from U.S. infrastructure spending (including utilities) and eventual economic rebound.
Scanning The Markets
March was an ugly month for the market as a whole, with the S&P 500 diving 6.4% and the NASDAQ plummeted 14.5%. Unlike February, the decline in March was pretty broad based.
Tech Watch…..The Bubble Is Gone
Tech valuations very much back in line, the question is, how low can they go?
The Devil's Work?
Courtesy of Paula Diemer, here are some of the most embarrassing typos that have appeared in church bulletins.
The Economic Time Clock…..Recessions And The Stock Market
Recession means it is time to buy stocks. Knowing to buy stocks half way through a recession is easy. The hard part is, when the recession started, and when it might end.
View From The North Country
Increased disclosure of mutual fund holdings detrimental to investment performance.
Volatility Update...No Significant Signs Of Slowing Volatility Yet
In 2000, the NASDAQ was the most volatile it had ever been. However, in 2001, new standards are being set.
Year/Year Equity Group Performance: Wide Dichotomy
The 10 best and 10 worst performing equity groups over the last twelve months.
Table of Contents
Stock Market
- View From The North Country
- April Is The "Opportunity" Month
- Market Breadth Update
- Year/Year Equity Group Performance: Wide Dichotomy
- Volatility Update...No Significant Signs Of Slowing Volatility Yet
- March Mutual Fund Flows: Net Redemptions In March
- Insider Block Measures...Looks Like Insiders Were Right
- Capitalization Tier Meausres
- NASDAQ Performance In Longer Term Perspective
Of Special Interest
Macro Monitor
Equity Strategies
- Tech Watch…..The Bubble Is Gone
- Internet Debacle Index
- New Select Industries Holding…..Building Portfolio Position In Construction & Engineering
- Scanning The Markets
At Random
April Is The "Opportunity" Month
Bear market broadened out in late March to include other than technology sectors. Never before have so many lost so much.…There is plenty of blame to go around. Academia, The Street, the Media, the “Experts” to name a few.
Bond Market Summary
Overall inflationary pressures subsiding, but expect a few more energy related flare ups.
Capitalization Tier Meausres
Continuing to evaluate Leuthold Index methodology.
Insider Block Measures...Looks Like Insiders Were Right
In the last ten weeks, a total of $9.8 billion of big block net insider sales have occurred.
Internet Debacle Index
Last month, we changed the name of this group. After a bounce in January, the “Internet Debacle Index” continued its freefall.
March Mutual Fund Flows: Net Redemptions In March
U.S. focus equity fund net redemptions of $11 billion are estimated for March.
Market Breadth Update
Despite the market’s weakness in March, the breadth experienced some deterioration in the last half of the month.
NASDAQ Performance In Longer Term Perspective
How have sharp declines of the past year affected performance over longer time horizons?
New Select Industries Holding…..Building Portfolio Position In Construction & Engineering
Upgrade to Attractive for April led us to this mid/small cap flavored group. Current GS score bolstered by strengthening Value and Judgmental related factors. Group fundamentals should benefit from U.S. infrastructure spending (including utilities) and eventual economic rebound.
Scanning The Markets
March was an ugly month for the market as a whole, with the S&P 500 diving 6.4% and the NASDAQ plummeted 14.5%. Unlike February, the decline in March was pretty broad based.
Tech Watch…..The Bubble Is Gone
Tech valuations very much back in line, the question is, how low can they go?
The Devil's Work?
Courtesy of Paula Diemer, here are some of the most embarrassing typos that have appeared in church bulletins.
The Economic Time Clock…..Recessions And The Stock Market
Recession means it is time to buy stocks. Knowing to buy stocks half way through a recession is easy. The hard part is, when the recession started, and when it might end.
View From The North Country
Increased disclosure of mutual fund holdings detrimental to investment performance.
Volatility Update...No Significant Signs Of Slowing Volatility Yet
In 2000, the NASDAQ was the most volatile it had ever been. However, in 2001, new standards are being set.
Year/Year Equity Group Performance: Wide Dichotomy
The 10 best and 10 worst performing equity groups over the last twelve months.
Stock Market
- View From The North Country
- April Is The "Opportunity" Month
- Market Breadth Update
- Year/Year Equity Group Performance: Wide Dichotomy
- Volatility Update...No Significant Signs Of Slowing Volatility Yet
- March Mutual Fund Flows: Net Redemptions In March
- Insider Block Measures...Looks Like Insiders Were Right
- Capitalization Tier Meausres
- NASDAQ Performance In Longer Term Perspective
Of Special Interest
Macro Monitor
Equity Strategies
- Tech Watch…..The Bubble Is Gone
- Internet Debacle Index
- New Select Industries Holding…..Building Portfolio Position In Construction & Engineering
- Scanning The Markets