Of Special Interest ...examining a significantly timely topic
Financials…..Be Careful!
We think it is inadvisable to make a positive sector bet.
A Look In The Rearview Mirror
A critical examination of what we thought was the best of The Leuthold Group’s research in 2002, as well as what was not so good.
Valuations Are Sky High…How Can The Leuthold Group Be Bullish?
An explanation herein, with the use of our trusty histograms.
NYSE Moving To Westchester Is Not Nearly Enough
This month’s feature was written by Don Weeden, still a Maverick and Innovator! Named one of the fifty most significant people in the securities business since 1950. “…...The world’s premier market center remains dangerously exposed. A move to Westchester won’t diminish the danger.”
“Playing The Bounce” 2002-2003
For those clients who may be interested, suggest reviewing qualifiers with a critical eye.
Total U.S. Market Capitalization As A Percentage Of GDP: An Alternative Valuation Perspective
Total U.S. Market Capitalization As A Percentage Of GDP: Identifying “Fair Value.”
Building A Defensive Equity Portfolio
Many professional portfolio managers are “equity only” managers, precluded from building up large cash reserves or considering alternative asset classes. Ideas for those who must be fully invested.
Relative Strength: Its Value.....And Its Limitations
Content from Steve’s recent speech given at the Annual MTA seminar in Jupiter, FL.
The Search for Telecom Survivors
The world still needs the ability to communicate, and some companies will emerge as winners.
De-Mystifying VLT Momentum
An explanation of VLT Momentum (The Coppock Curve); what it is and how we use it.
Revisiting The "Economic Recover" Leaders
In July 2001, we produced a study examining which groups perform best coming out of a recession. Being published before the current recession was declared, few probably caught the relevance.
Why We Still Favor Small Caps Over Large Caps
Prior history shows average period of small cap dominance is about five years...longer than that experienced in the 1990s.
A Look In The Rearview Mirror...The Best And Worst Of Our Research In 2001
Annual examination of our work from the previous year.…closely reviewing what we called right and wrong.
Irrational Exuberance Then & Now
Many investors have come to realize just how overvalued the stock market became in the late 1990s. Alan Greenspan may have been early with his comment about “irrational exuberance” in late 1996, but in hindsight his warning was warranted.
Playing The Bounce Update
The Leuthold Group is not currently playing the bounce, but may consider doing so in December.
Security And Preparedness
With the September 11th Attacks, America came to realize vulnerabilities not previously imagined. This study looks at companies that may aid in heightening security measures.
New Screen: Net Free Cash Flow (NFCF)
Cash Flow analysis can offer an attractive alternative to the traditional earnings approach to “Value” judgments.
Unreal Expectations, Unreal Money = Lingering Pain
By Kate Welling - Companies are still acting, by and large, as if they have an inalienable right to spin numbers in whatever direction produces the most pleasing results.
Performance From A Long Term Perspective
Don’t let the roller-coaster ride of the short term lead to abandonment of sound, long-term investment strategies. Despite 2000-2001 declines, stock market performance over the last ten years is still beating long-term, median equity returns.
Leuthold’s Commodity Diffusion Index
The Commodity Diffusion Index is an outstanding inflation monitor and has also been a good gauge of future market performance.
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