Skip to content

Green Book July 2014

The breadth of new market highs across multiple market indexes illustrates beyond a doubt that the stock market is “externally” in gear. Current conditions are cyclically bullish for equities; the math doesn’t support the “secular” bull market thesis that is becoming increasingly popular.

Energy sector is heating up and now ranks as #2 sector after four years of ranking as one of the four worst sectors.

Login

For full access, please enter your credentials.
Subscribe

Featured Articles

Stock Market

Disciplines Remain Bullish, But...

Current conditions remain cyclically bullish for equities, however, the mathematics don’t support the  “secular” bull market thesis, or those betting that stocks can be propped up by the economic expansion.

Of Special Interest

The Ten-Year Stock Market View: Are Above-Average Returns Possible?

Unfortunately, the upswing since early 2009 can be considered immature only from the perspective of its age. The math just doesn’t support the secular case.

Stock Market

The Public And The Professionals Square Off

Two short-term, options-based sentiment measures have just swung to levels consistent with near-term difficulty for stocks. Current reading is the most bearish combination of smart-money caution and dumb-money confidence in 10 years.

Macro Monitor

Time Cycle Composite—Mid-Year Update

Our beginning-of-the-year message—“lower your expectations and be patient” has largely been true so far this year as most equity markets tracked the historical pattern pretty closely.

Quant

A Top Down View Of REITs

Although Valuations are a headwind for the asset class, at the stock level our disciplined multi-factor model indicates best opportunities are Small/Mid Caps, and Hotel & Resort-oriented names.

Equity Strategies

Energy Rates At 4-Yr High; Bought Integrated Oil

Strength in the Energy sector has been so compelling that our two recent Energy group allocations together now make up a 10% portfolio weight, after having no Energy exposure from June 2013—April.

Equity Strategies

Electronic Payment Systems: Can Strong Performance Persist?

As a follow up to a 2012 Special Study, we examine the growth in Electronic Payment Systems. Global competition in the industry has significantly heated up, as more countries are setting up their own national payment systems, relying much less on the “big four” global giants.

Table of Contents

Stock Market

Of Special Interest

Macro Monitor

Equity Strategies

Quant

Market Internals

Portfolios

Major Trend

Fund Flow Trends

Estimating the Downside

At Random

Appendix

Interested in Investing in a Model?

Contact us if you are interested in investing in our ETF models.
Contact Us