Latest Research

Weekly flow has been relatively subdued for much of the first quarter.

The S&P 500’s largest and most rapidly increasing sectors.

Profit taking certainly played a large part in the past month’s sell-off. Another key factor was that rising U.S. interest rates in March prompted a rebound in the U.S. dollar against major currencies.

Injecting small starter position of Generic Pharmaceuticals into the Select Industries Portfolio, bringing exposure to Health Care sector to a modest overweight position.

The U.S. deficit was not a bond market negative in 2004, but continuing long term deficits will become a negative.

Leuthold Group specialized Advance/Decline Lines indicate fading breadth among Small Caps.

Weighing in on the current stock market positives and negatives currently being discussed by clients and Wall Street strategists.

New portfolio group position being established in Computer Storage & Peripherals, giving us our first tech holding in eight months.

Right out of the gates, February’s stock market performance quickly erased the declines posted in January. But by month end, the S&P 500 had given back some of the ground gained in the first half.

Revised 2005 earnings for the S&P 500 down from +10% to +8%. Q4 2004 earnings stronger than anticipated. Will make for tougher comparisons at 2005 year end.

Still think Small Caps have leadership position over Large Caps, but it is getting more difficult.

A look at how our Group Selection Scores did in 2004.

Heading into 2005, many investors were looking for a pickup in M&A activity.

Weekly flow during the month of February mostly followed the trend of the stock market.

We had speculated last month that both metal equities and physical metals were primed for a bounce, but we must admit we were surprised by the size of the bounce, particularly in the metal equities.

The current economic expansion reached three years at the end of 2004. Since WWII, the average expansion has lasted 57 months.

An expanded discussion of profit margins broken out by broad sectors. Expect some expansion still in Materials and Energy, as well as possibly Tech. Contraction anticipated in Financials, Consumer Discretionary and Telecom.

Steve Leuthold’s commentary on how he would structure a defensive portfolio.

February sure came in like a bull, with the S&P 500 already up 1.8% through February 4th, while the NASDAQ has risen 1.1%.

Jim Floyd has begun analyzing the profit margins broken down by broad equity sectors. He also looks at some of the factors which may have a specific impact on the margins.