Green Book October 2003
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Featured Articles
Below Average Returns May Be Expected When Junk Bond Yields Fall Below 9%
New study by The Leuthold Group suggests below average High Yield bond returns can be expected when Junk yields fall below 9%.
Bond Market Summary
Economy picking up steam in second half. Revised Q2 GDP better than expected.
Client Questions
Answering client questions on the economic recovery, bull market upside, valuations, Main Street and what could go wrong?
Don't Count Out The Consumer
Consumer should not be underestimated. Combined mortgage debt and household debt only 14%, just barely above the 1980-to-date median.
Insider Selling: Not As Bad As Media Depicting
Recent selling by corporate Insiders is not as bad as you are being told!
Into The Home Stretch…..2003
Octophobia 2003…..The stock market has nothing to fear but fear itself. The financial system is awash in liquidity, the economy stronger than anticipated and investor confidence is returning.
NASDAQ & NYSE Short Interest
Ratios decline as volumes increase.
Revisiting The VIX
While we still believe there are problems with the VIX as a sell signal, our study did reveal some validity in the 1997 to date period.
Scanning The Markets
The equity market took a breather in September.
September Mutual Fund Flows...Almost $100 Billion Net Inflow In Last 7 Months
Flow into equity mutual funds continues. Seven consecutive months of net inflow to U.S. focus equity funds, for a total of close to $100 billion.
Tech Watch
Technology stocks retreat in late September. The NASDAQ records its first down month this year (–1.3%), but finished Q3 up 10.1%.
View From The North Country
Thoughts and commentary regarding the groups in our Select Industries Portfolio, the Mutual Fund Timing scandal, NASD Margin Debt and deficit worries.
Wisconsin Vs. Minnesota
This football joke came from Clayton Davis at Boston Partners Asset Mgmt. in Boston.
Table of Contents
Stock Market
- View From The North Country
- Into The Home Stretch…..2003
- Client Questions
- Don't Count Out The Consumer
- September Mutual Fund Flows...Almost $100 Billion Net Inflow In Last 7 Months
- Revisiting The VIX
- NASDAQ & NYSE Short Interest
Of Special Interest
Macro Monitor
Equity Strategies
At Random
Below Average Returns May Be Expected When Junk Bond Yields Fall Below 9%
New study by The Leuthold Group suggests below average High Yield bond returns can be expected when Junk yields fall below 9%.
Bond Market Summary
Economy picking up steam in second half. Revised Q2 GDP better than expected.
Client Questions
Answering client questions on the economic recovery, bull market upside, valuations, Main Street and what could go wrong?
Don't Count Out The Consumer
Consumer should not be underestimated. Combined mortgage debt and household debt only 14%, just barely above the 1980-to-date median.
Insider Selling: Not As Bad As Media Depicting
Recent selling by corporate Insiders is not as bad as you are being told!
Into The Home Stretch…..2003
Octophobia 2003…..The stock market has nothing to fear but fear itself. The financial system is awash in liquidity, the economy stronger than anticipated and investor confidence is returning.
NASDAQ & NYSE Short Interest
Ratios decline as volumes increase.
Revisiting The VIX
While we still believe there are problems with the VIX as a sell signal, our study did reveal some validity in the 1997 to date period.
Scanning The Markets
The equity market took a breather in September.
September Mutual Fund Flows...Almost $100 Billion Net Inflow In Last 7 Months
Flow into equity mutual funds continues. Seven consecutive months of net inflow to U.S. focus equity funds, for a total of close to $100 billion.
Tech Watch
Technology stocks retreat in late September. The NASDAQ records its first down month this year (–1.3%), but finished Q3 up 10.1%.
View From The North Country
Thoughts and commentary regarding the groups in our Select Industries Portfolio, the Mutual Fund Timing scandal, NASD Margin Debt and deficit worries.
Wisconsin Vs. Minnesota
This football joke came from Clayton Davis at Boston Partners Asset Mgmt. in Boston.
Stock Market
- View From The North Country
- Into The Home Stretch…..2003
- Client Questions
- Don't Count Out The Consumer
- September Mutual Fund Flows...Almost $100 Billion Net Inflow In Last 7 Months
- Revisiting The VIX
- NASDAQ & NYSE Short Interest