Latest Research

Leuthold deactivation of two energy groups last month was a tactical move and does not represent a longer term bearish fundamental view toward the oil patch.

The index is not currently “overvalued”…..Nor is it undervalued. Small/mid cap stocks cheap, but large caps also getting attractive.

Given various assumed compound rates of return, how long will it take for the investor who remained in stocks to catch the investor who shifted to T-bills at the top?

U.S. focus equity fund net outflow of $13 billion is estimated for February.

History shows us a number of economic sectors besides technology which have also experienced broad swings as the tide of investor enthusiasm ebbs and flows.

The latest reading is well into bullish territory and is the most positive reading on this indicator since the first quarter of 1995.

In the previous recovery, there was an extended period where the economy appeared sluggish, not unlike what we are seeing today.

Volatility in the S&P was unusually high in 2002. And now in early 2003, it appears the S&P 500 is continuing to be extremely volatile.

Both ratios reconfirming a buy signal.

We always welcome the chance to hear what’s on our readers’ minds, and have often found that seeking answers to these questions can lead to new research topics, interesting charts, and new ways of looking at things.

Initiated coverage of a new banking group subset in our Financial sector that focuses on small cap, community-focused banks.

New Biotech holding increased Health Care commitment in Select Industries to 27%.

The stock market is off to a poor start in 2003, with the S&P 500 down 4.4%, and the DJIA off 5.4%.

The initial framework presented with a snapshot of the current relationships.

For the second month in a row, the NASDAQ was the best performing major index.

The grand 20+ year secular bull market in bonds is probably topping out.

We believe High Yield bonds remain attractive. The economy is improving and corporate profits are rebounding from depressed levels.

The spread between Long Quality Corporates and twenty year Treasury bonds at the pinnacle is back down to a more normal range, as the Treasury shortage elimination-thesis has fallen apart due to rising budget deficits.

Still bullish on stock market, expecting cyclical bull market to extend into 2004. Very worried that any easing of tensions in Iraq or Venezuela will bring crude prices down hard and fast.

The January Effect still lives…..it just comes a month earlier, in December.