Latest Research

For managers who are mandated to stay fully invested, Mid Caps make pretty good sense as a replacement for extremely overvalued Nifty Fifty stocks.

Just as many plan sponsors throw in the towel, active managers pull a great quarter out of their collective hat. What's in store for the second half of 1999?

Early on, it appeared that June was destined to be one of the less memorable months in terms of U.S. equity fund inflows. But big net inflows came in during the final five days of the month, making June much more memorable to fund flow watchers.

Cash acquisitions are shrinking U.S. equity base at a faster pace than ever before…$135 billion in the first half of 1999, a record so far, with no signs of a slowdown.

The latest reading has broken back above this extreme net selling line.

Volatility in 1999 remains high after eight of 22 trading days in June (36%) ended with up or down moves of 1% or greater in the S&P 500.

Recent 25 basis point bump-up by Fed will not be the last. More tightening seems likely but T-bonds now look to be in the high end of a buying zone.

This oversold group has already begun recovery from early-1999 lows, but is still down 44% from 1997 high.

Interesting switch in Q2, away from intangibles of cyberspace and into technology equipment. Year to date momentum, though shifty, is still concentrated in technology and communications.

Despite proclamation of a “neutral” bias toward future interest rate shifts, expect the Fed to raise short rates at least 25 basis points more.

With margin debt soaring, it’s past time for the Fed to boost margin requirements. Charlie Maxwell offers unique insights on the oil patch. Rapidly deteriorating U.S./China relationship could have severe implications.

The S&P 500 eased 2.5% in May, while measures of smaller cap stocks edged up 1% to 2%. Major Trend Index has shifted to negative status. Dow Jones 40,000?

Market volatility was the likely culprit for equity fund disenchantment in May, as net inflows into U.S. focus equity funds for the month were less than half of April’s record breaking $26.1 billion. Main Street Confidence: The critical market factor…..what are some potential confidence destroyers?

Volatility is on the rise again.

1999 YTD cash acquisition factor nearly $100 billion, far exceeding YTD totals for the last four years.

The latest reading has broken back above this extreme net selling line.

Maybe we are too cautious about calling a turn in relative small cap performance. VLT work on Russell 2000 and Value Line now both giving buy signals.

Strong likelihood the Fed will tighten in next few months, but today’s market rates may already factor in future 25-50 basis point Fed bump up in short rates.

Improved earnings momentum, favorable demographics and lessening government pressures all coming together to set stage for Health Care to again provide market leadership.

Cyclical rally proved short lived, while “dotcom” stocks suffered poorest month since August 1998.