Of Special Interest

Of Special Interest

  • Of Special Interest

    Polling the Pros: Strange Divergences

    June 05, 1992 BY Steve Leuthold

    In May, polls were taken among our clients in New York and at the Market Technicians Association’s Annual Seminar in Naples, Florida. The results were quite different.

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  • Of Special Interest

    Past Performance in Perspective

    May 05, 1992 BY Steve Leuthold

    During April, the histogram featured in this section was used in presentations to the Cleveland and Denver analyst societies. It appears to have surprised some professionals, especially those who entered the investment profession during the 1980’s.

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  • Of Special Interest

    S&P 500 P/E Ratios: The Lessons Of History

    April 05, 1992 BY The Leuthold Research Team

    This study focuses on the S&P 500 and its P/E ratio.

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  • Of Special Interest

    Japan: Buy For A Rally (Maybe More)

    April 05, 1992 BY The Leuthold Research Team

    One of the great bubbles of all time continues to deflate. The Japanese stock market, as measured by the Nikkei Index is now down 53% from its December 1989 peaks. The P/E for the Nikkei has fallen from its 1987 peak of 68 to its current level of 30 (trailing 12 month earnings), a decline of 56%.

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  • Of Special Interest

    Earnings Momentum Update

    March 05, 1992 BY The Leuthold Research Team

    The vast majority of 1991 fourth quarter earnings reports have been released.

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  • Of Special Interest

    S&P 500 Weighted And Unweighted

    February 05, 1992 BY The Leuthold Research Team

    Each January clients call to inquire about last year's performance of the S&P 500 with each component stock given equal weight. Jim Floyd has updated this calculation. It should come as no surprise that in 1991 the equally weighted S&P 500 outperformed the weighted version. However, it was surprising the margin was as small as it was (only 640 basis points). The weighted S&P 500 was up 26.3% while the equally weighted S&P 500 was up 32.72 (dividends excluded).

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  • Of Special Interest

    Stock Market Valuations And Treasury Bill Yields

    February 05, 1992 BY The Leuthold Research Team

    The Leuthold Group currently incorporates 38 stock market valuation measures in its Major Trend Index (see Appendix). Currently 31 of these are at least to some degree negative.

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  • Of Special Interest

    Dreams And Nightmares

    January 05, 1992 BY Andrew Engel and Jim Floyd

    Much of the January Green Book is devoted to tradition, so too is this section. We resumed this tradition two years ago and have found it to be quite interesting. We now annually conduct this exercise each January, examining the previous year's leading and lagging stock market groups.

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  • Of Special Interest

    A Look In The Rearview Mirror

    January 05, 1992 BY The Leuthold Research Team

    Self examination can be good for the soul, so each year time is taken to look back over the preceding year or so, critically reviewing the significant studies, portfolio shifts and recommendations appearing in this publication. Including the good...and the bad.

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  • Of Special Interest

    Earnings Momentum: Better Than You Think

    December 05, 1991 BY Andrew Engel and Jim Floyd and Steve Leuthold

    On an aggregate basis, third and fourth quarter reported earnings will be below even what pessimistic prognosticators are projecting. However, looking at earnings momentum on the basis of individual companies presents a very different picture.

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