Intrinsic Value

Intrinsic Value

  • Of Special Interest

    The Bullish Case: A Mental Exercise

    February 05, 2016 BY Doug Ramsey

    We’ve been correctly positioned near our tactical portfolios’ equity minimums, yet we’re oddly compelled to use this month’s “Of Special Interest” section as a very public second-guessing of that move.

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  • Stock Market

    Stock Market Valuation Check

    June 05, 2015 BY Doug Ramsey

    It now goes almost without saying that whenever the stock market moves to a new cycle extreme, so does the MTI’s Intrinsic Value category. In late May, this reading dropped below –400 for the first time in this bull market, and is now within 150 points of its 2007 extreme.

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  • Stock Market

    I’m Still Afraid of Heights

    December 05, 1998 BY Steve Leuthold

    Intrinsic Value benchmarks for each stock market average, using 1957 to date data. Using 1926 to date data the calculations are even more frightening.

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  • Stock Market

    The Mixed Messages Of January

    February 04, 1998 BY Steve Leuthold and Jim Floyd and Andrew Engel and Eric Bjorgen

    It was a shaky 1998 start, but the U.S. equity markets got it together after the big hit on January 9th (-3%).

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  • Stock Market

    August Insights

    September 05, 1991 BY Steve Leuthold

    Secondary stocks’ August performance, growth vs. cyclical and growth vs. value performance, S&P and DIJA historical valuations and the Royal Blue Index.

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  • Of Special Interest

    How High Is High?/How Low Is Low?

    September 05, 1991 BY Steve Leuthold

    An update of The Leuthold Group’s Intrinsic Value Benchmarks provides a way of estimating upside and downside potential for the DJIA and S&P 500. How much higher might the stock market go in the next year…..and what is the bear market downside risk?

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  • Stock Market

    Inside the S&P 500, 400 and the DJIA

    August 05, 1991 BY Steve Leuthold

    From time to time, there are client inquiries concerning the foundations of The Leuthold Group’s fundamental intrinsic value judgements, relating to the S&P 500, 400 and the Dow Jones Industrials. Here is a current data summary regarding these three stock market indices.

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  • Stock Market

    How High Is High?

    April 01, 1991 BY Steve Leuthold

    The Leuthold Group’s Intrinsic Value Benchmarks provides another way of estimating upside potential for the DJIA and S&P 500. Based on the past history of bull market valuation levels, where might the stock market be 12 months from now?

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  • Of Special Interest

    Stocks Not Cheap, Stocks Not Expensive

    October 01, 1990 BY Steve Leuthold

    Stocks are now in the high 40%-45% of the historical valuation distribution range. This is not cheap, but neither is it expensive. Based on our Benchmarks work, it now appears we can expect average performance for the stock market from today’s levels over 1, 3 and 10 year time horizons.

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  • Stock Market

    Continuing Client Questions

    July 01, 1990 BY Steve Leuthold

    If the Index does shift to the positive side, how can you (in view of your own intrinsic value work) justify aggressively buying stocks? Considering the downside risk, is it really worth it to aggressively buy equities if your Index now turns positive? If your Index does turn positive, what are the chances it might be a whipsaw?

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