Inside The Stock Market ...trends, cross-currents, and outlook
View From The North Country
Dividends do matter, especially as an important component of total return. Also, a recent study published in the Financial Analyst Journal tries to get at the root of large cap, growth stock dominance in the 1990s.
Insider Block Measures...A Bearish Picture
Big block transactions total about $47 billion so far this year, almost twice the YTD levels of 1998 and 1999 when insider selling was at historically high levels. This year’s level of selling is unprecedented.
Stock Market Sweet Spot
Stock Market Sweet Spot between now and election. Fewer impediments with inflation pressures easing and economy showing signs of a slowdown. Also, making a case for Mid Caps and is the Paid To Play performance for real?
August Mutual Fund Flows: Main Street Investors Staying The Course
The YTD $194 billion net inflow through the end of August is now 67% more than 1999’s $116 billion net inflow over the same YTD period, and has already matched the annual record (1997’s $194 billion). Supply/Demand: Offerings volume was very heavy during the first half of August, but began to dry up in the second half of the month.
Volatility Update
Down significantly In August...New trend or anomaly?
Volatility Update…Today’s S&P Volatility Reminiscent of 1987
No year in NASDAQ history even approaches this year’s volatility!
Capitalization Tier Meausres
The Leuthold Group has set out to create a more realistic assessment of Big, Mid, Small, and Micro cap performance.
View From The North Country
What are the economists missing? Dismal performance by practitioners of a dismal science! Jim Bianco, Bianco Research L.L.C., helps shed some light on the subject: “GDP Reality vs. Perception”.
This Is A Tough Market
The Value Tide is coming in (finally). In July, Large Cap, Mid Cap and Small Cap Value all outperformed their “Growth” counterparts by generous margins.
July Mutual Fund Flows: Main Street Investors Remain Mostly Unfazed By Market Declines
One thing can be said about the equity fund money flow this year: it just keeps rolling in.
June Mutual Fund Flows: Fund Investors Still Hangin’ In
In 2000, inflows have come in at a record clip. The YTD $160 billion net inflow through the end of June is now about 74% more than 1999’s net inflow over the same six-month period.
Supply Factors
YTD offerings of $120 billion have been overtaken by $142 billion in YTD cash acquisitions.
Insider Block Measures...A Bearish Picture
High levels of selling indicate corporate insiders are cashing in by cashing out of the stock market and this year’s level of selling is unprecedented.
View From The North Country
Per Ray DeVoe, pay increases for the service sector workers are running at a 7%-8% annual rate of increase, compare this to the BLS calculation of +3.5% for this same sector. Steve and Sharon ride the rails through the Scotland highlands.
How Long To Catch Up?
Bear markets and the time to catch up.
In The Rear View Mirror
Year 2000 is half over...Leuthold Paid To Play equity portfolio concentrated in Energy and Health Care up 7% in June, +33% YTD. Also, today’s huge valuation dichotomy.
Capitalization Tier Meausres
The Leuthold Group has set out to create a more realistic assessment of Big, Mid, Small, and Micro cap performance.
Volatility Update
NASDAQ Volatility - Unprecedented! First step toward trading in decimals will begin this fall. Barry Small, CEO of Weeden & Co., offers his insights on the impact on liquidity and potential volatility for the U.S. markets.
Capitalization Tier Meausres
The Leuthold Group has set about to create a more realistic assessment of Big, Mid, Small, and Micro cap performance.
No Merry Month Of May
Kate Welling shares her insight on the recent market action. Also, the 2000 NASDAQ Market...The magnitude and short duration of both the Spring decline and the last few days’ 20%+ rally, are a direct reflection of the sad state of liquidity in the NASDAQ market.
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