Green Book August 2005
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Featured Articles
Economic Outlook
Still bearish on the bond market. From today’s low interest rate levels, there is not much upside, but downside is significant!
Industrial Metals Stocks: Big Rally In Metal Equities
Metal equities broke out above their trendline near the end of May, and have continued to rally since.
July Market Action
Strong July stock market could continue into the dog days of August.
Mutual Fund Flow…..July Flows Remained Light
Despite evidence to the contrary, many continue to think that investment in exchange traded funds is commanding the lion’s share of new money flow going into all equity funds.
Revisiting Sector Profit Margins: Data Now Expanded Back The 1950s
On an aggregate basis, we see little room for further margin improvement, but there are select areas we believe may yet be poised for additional (slight/moderate) expansion.
The Consumer: Still Chugging Along
Consumer spending may have finally peaked in this cycle, but a consumer collapse is far from imminent. Consumers can be expected to remain supportive of economic growth.
Third Year Of Bull Market...Assessing The Current Cycle From A Historical Perspective
A comparison of the performance of the current stock market recovery to the monthly performance averages of past recoveries (1900 to date).
View From The North Country
In my opinion, the U.S. stock market is entering the terminal phase of the current cyclical bull market, based on our historical studies of typical cyclical bull market duration and magnitude. To a lesser degree the same can be said for the economic expansion.
Table of Contents
Stock Market
- View From The North Country
- July Market Action
- The Consumer: Still Chugging Along
- The Latest On Capex...Growth Appears Likely To Continue
- Sustainable Tech Rally?
- Mutual Fund Flow…..July Flows Remained Light
- Third Year Of Bull Market...Assessing The Current Cycle From A Historical Perspective
Of Special Interest
Macro Monitor
Equity Strategies
Inflation Watch
Economic Outlook
Still bearish on the bond market. From today’s low interest rate levels, there is not much upside, but downside is significant!
Industrial Metals Stocks: Big Rally In Metal Equities
Metal equities broke out above their trendline near the end of May, and have continued to rally since.
July Market Action
Strong July stock market could continue into the dog days of August.
Mutual Fund Flow…..July Flows Remained Light
Despite evidence to the contrary, many continue to think that investment in exchange traded funds is commanding the lion’s share of new money flow going into all equity funds.
Revisiting Sector Profit Margins: Data Now Expanded Back The 1950s
On an aggregate basis, we see little room for further margin improvement, but there are select areas we believe may yet be poised for additional (slight/moderate) expansion.
The Consumer: Still Chugging Along
Consumer spending may have finally peaked in this cycle, but a consumer collapse is far from imminent. Consumers can be expected to remain supportive of economic growth.
Third Year Of Bull Market...Assessing The Current Cycle From A Historical Perspective
A comparison of the performance of the current stock market recovery to the monthly performance averages of past recoveries (1900 to date).
View From The North Country
In my opinion, the U.S. stock market is entering the terminal phase of the current cyclical bull market, based on our historical studies of typical cyclical bull market duration and magnitude. To a lesser degree the same can be said for the economic expansion.
Stock Market
- View From The North Country
- July Market Action
- The Consumer: Still Chugging Along
- The Latest On Capex...Growth Appears Likely To Continue
- Sustainable Tech Rally?
- Mutual Fund Flow…..July Flows Remained Light
- Third Year Of Bull Market...Assessing The Current Cycle From A Historical Perspective