Articles by Greg Swenson Director of Equities
Highlighted Attractive Groups
Info Tech, Consumer Discretionary, and Health Care are the top-three rated sectors; Energy, Utilities, and Telecom comprise the bottom of the ranks.
Portfolios - October 2017
The Leuthold Core and Leuthold Global portfolios performed in line with their respective benchmarks during September.
Highlighted Attractive Groups
Drug Retail, Life Sciences Tools & Services, and Specialized Finance are among the month’s intriguing opportunities based on the current GS Scores.
Macro Factors Reassert Themselves
There will be occasions when the macro influences are reasserted, which happened in September.
Portfolios - September 2017
Both the Leuthold Core Portfolio and the Leuthold Global Portfolio outperformed their benchmarks during August.
Value Continues To Underperform
August factor performance was more of the same: Value underperforming everything else and extending its losing streak relative to Growth.
Portfolios - August 2017
Both the Leuthold Core Portfolio and the Leuthold Global Portfolio slightly trailed their all-equity benchmarks during July.
Highlighted Attractive Groups
Airlines, Life & Health Insurance, and Household Durables are among the month’s intriguing opportunities based on the current Group Selection (GS) Scores.
July Factor Performance
With the exception of Low Volatility and Profitability, all other factor categories produced positive factor performance in July. The month was eventful, however, as Momentum produced a +4% spread through July 12th, only to give up more than half of that advantage as interest rates rolled back over.
Evaluating Real Estate Investment Trusts
In mid-2013 we developed a multi-factor model to select individual REITs, figuring that we could exploit an area of the market that is uncrowded from a factor and quantitative standpoint. The results have been outstanding, with the buy-rated securities outperforming the sell-rated securities by 45% since the model went live.
Rotation From Info Tech To Financials Drives Factor Performance
Factors were impacted in June by: 1) Information Technology underperformance; 2) Financials’ renewed strength; and, 3) defensive and low volatility stocks lagging.
Highlighted Attractive Groups
Auto Parts & Equipment, Hotels & Leisure, and Semiconductor Equipment are among the month’s intriguing opportunities based on the current Group Selection (GS) Scores.
Portfolios - July 2017
Both the Leuthold Core Portfolio and the Leuthold Global Portfolio outperformed their respective benchmarks this month.
Highlighted Attractive Groups
Home Entertainment Software, Managed Health Care, and Specialized Consumer Services are among the month’s intriguing opportunities based on the current Group Selection (GS) Scores.
Value Struggles Continue… Rinse, Repeat
Value can’t catch a break in 2017; every month has produced a negative performance spread. Price-to-Book has been the worst single Value factor this year, hurt by the heavy Energy and Financials weight in its cheap quintile.
Portfolio - June 2017
The MTI remains safely in the positive zone.
Value Continues to Struggle in 2017
Value has taken its lumps to start 2017, but is it really that bad for the factor and its dedicated followers?
Highlighted Attractive Groups
Health Care Facilities, Railroads, and Real Estate Management & Development are among the month’s intriguing opportunities based on the current Group Selection (GS) Scores.
Portfolios - May 2017
The MTI remains safely in the positive zone.
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