Latest Research

Chasing the tale of past performance…The large cap indexing stampede. It’s not too late to get invested in emerging market funds. Also “Richer than your wildest dreams”…The advertising pitch of online trading firms. Who is protecting the public from this?

I don’t ever recall seeing a month with such a sudden and dramatic change in market character, at least not in terms of sector and group leadership.

There were unprecedented sudden and dramatic changes in market character in April. Have Cyclicals become the new market leaders? Is Value investing finally going to start paying off again? Is the extended period of small cap underperformance finally over?

April net inflows into U.S. focus equity funds estimated at $23 billion, up from $15 billion in March. YTD equity fund cash flows still 25% below 1998 levels.

1999 YTD cash acquisition factor nearly $82 billion, over 2 ½ times totals for the last four years.

The Russell 2000 currently has an upside warp because of its Internet stock components. Many of these issues are now too big for this small cap measure, but remain in the index until the annual Russell rebalancing on May 31.

April was another volatile month. Of the 20 trading days, seven posted moves of 1% or more (35%).

The 10 week average temporarily broke through extreme net selling territory on April 21^st. The latest reading (through April 28^th) has broken back below this extreme net selling line...temporarily?

It may seem simplistic to be buying these stocks with the ongoing news from the Balkans, but sometimes the simplest concepts can be the most rewarding.

Massive shift into cyclical stocks during April left most investors scratching their heads, as technology high-flyers took second chair to metals, energy, and other basic materials.

New inflation fears and strong economy contributing to higher yields. Think Fed may tighten (50% likelihood) in coming months to slow down amazing economy.

Much of the movement in MZM levels is not directly related to Fed policy. Stock market performance may be the primary driver, as investors and institutions move assets between the stock market and cash market.

Transcript from late February conference call with Steve Leuthold and Byron Wien covering a wide spectrum of timely investment topics.

New inflation fears and strong economy contributing to higher yields. Fed may tighten in coming months to slow down this high powered economy.

S&P 500’s cap weighted 5% Q1 return overwhelmed most active manager’s returns.

Earnings are declining, while stock prices are marching higher. GDP strong, but corporate profits have weakened considerably.

Yes folks, it’s the road to riches. Quit your job, jump in front of your computer, and join the rush to the bonanza of online trading. With minimal work, and effort you could be set for life.

Volatility remains high in 1999.

The current high level of selling is forecasting a rocky road ahead for the stock market.

There were two weekly periods of net redemptions in March, both occurring in down market weeks. Weekly inflows bounced back strong during the weeks the market rallied, but it is obvious that volatility of weekly cash flows has been a reflection of stock market volatility.