Latest Research

The “Fail-Safe” mechanism was removed in mid-March, after market action moved above the re-entry point.

Looking for reasons to own more stocks? Doug Ramsey has a whole bunch of them.

We’ve been receiving a lot of client questions on normalizing earnings. We take a look at a “Bottom Up” approach and give a simplistic description of our approach.

Dividends have been garnering a lot of attention of late. We provide a list of S&P 500 constituent dividend changes and examine the implications of dividend cuts from an historical perspective.

Have analysts blown through reality and swung too far, paving the road for upside surprises?

If the November lows in the Homebuilders holds, based on the leading relationship between stocks and starts, an upturn in housing starts (not the broader economy) should be imminent.

REITs were at one time a market darling, and for the first three quarters of 2008 they were holding up much better than the stock market.

The “Fail-Safe” was triggered by the poor market action at the end of February, and we are moving towards a 50% net equity exposure. Caution seems prudent despite the Major Trend Index remaining in positive territory.

Extrapolate the current state of affairs into the future at your own risk - “normalcy” is bound to return at some point.

Fed policy in the current crisis has been far more aggressive than at a comparable point in either the Great Depression or in Japan’s “Lost Decade.”

Credit spreads have blown out to levels not seen since the 1930’s. What are the implications for the market?

Eric Bjorgen searches for something beyond The Great Depression or 1990’s Japan. See what he found in this month’s Of Special Interest.

Last month, using Ben Graham's model, we found the U.S. market to be undervalued for the first time in about 50 years. Unfortunately, the values have become even more compelling over  the past five weeks.

The recent dismal stock market sell off, combined with flight to safety of U.S. Treasuries, has vaulted bond returns well above their historical norms while stock returns are well below their historical norms.

Five groups we think are poised to benefit form the stimulus legislation.

The Morgan Stanley Cyclical Index: a group we didn’t recognize as a bubble two years ago (and we suspect we’re not the only ones), but one that meets the minimum requirement for “membership” by declining at least 70% from its high.

Identifying and comparing important characteristics of the broad sectors of the S&P 500.

A brief description of the differences among these Chinese market segments and comparisons of major funds offering exposure to the Chinese stock market. 

Uncertainties are running high, and the stock market continues its struggle with a complex array of cross currents.

With stock market “fundamentals” seemingly worse than at any time since World War II, we revisit the methods of the founding father of fundamental security analysis.