Valuations
Tech Watch
Book to Bill ratio continues to improve. Some solid evidence that the prospects for the chipmakers are looking up.
Is This A Bear Market?
Is this a bear market? It certainly is a bear market in integrity! Steve presents the case for both Bears and Bulls.
Tech Watch
S&P Tech up slightly in January, but median PE ratio rises for 5th straight month as poor earnings are reported.
New Select Industries Group Holding: Employment Services
Quantitative strengths include VLT Momentum, Relative Strength and Judgmental. Group should benefit in first stages of rebounding economy, as employers might be reluctant to hire new full-time employees.
Tech Watch…..S&P Tech Subset Down 19% In September, Down -33% In Q3
On a valuation basis, tech stocks are approaching an attractive accumulation zone.
Security And Preparedness
With the September 11th Attacks, America came to realize vulnerabilities not previously imagined. This study looks at companies that may aid in heightening security measures.
Tech Watch…..S&P Tech Subset Down 5% In July
Worse than expected Q2 earnings (losses) beat down the tech sector in July. The bad news just won’t end.
View From The North Country
I am positive about today’s stock market, but there are some considerations that could cause my optimism to be premature. A bubble/bust comparison between the great gold and silver bubble of 1979-1980 versus the 1998-present Internet sector. Not all single digit stocks should be shunned.
Tech Watch…..The Bubble Is Gone
Tech valuations very much back in line, the question is, how low can they go?
Be A Buyer, Not A Seller
Stock selection in a recession is a different ball game! A look at some of the rules and the traps when investing during a recession. The Bullish Message Of Breadth: Demonstration of how divergences between the S&P 500 and the A/D Lines have denoted market tops and market strength.
Tech Stocks Approaching "Normal" Valuations
S&P 500 tech weighting has plunged 43% from February 2000’s peak of 34%. Now at 19%, but expect it may have further to fall in 2001.
Have Increased Equity Exposure
Our Aggressive Stance On Equity Exposure: Fed cuts, money supply expansion, tax cut prospects, fund inflow, and market internals.….Not all worries have gone away, however. This bear market has not followed what can be thought of as a traditional course.
Tech Stocks: Valuation Considerations Now
The underlying decline in valuations and tech stock weightings in the cap weighted market indices probably has further to go in 2001.
S&P Technology Weighting Falling
S&P Technology Weighting has fallen to about 21.9% from nearly 35% in February. Expect it to fall to 20% or below (recession?) within the next year.
Technology: What’s The Downside?
November was Tech nightmare but we think about two-thirds of decline is behind us.
Technology: What’s The Downside?
Not even the mighty techs are immune to saturation, overcapacity, cyclicality, and fierce competition.
Technology Sector Valuations: Where Are We Now?
Since February, valuations have plummeted 37%, about half way back to median levels. However, relative P/E ratios paint a different picture.
This Is A Tough Market
The Value Tide is coming in (finally). In July, Large Cap, Mid Cap and Small Cap Value all outperformed their “Growth” counterparts by generous margins.
In The Rear View Mirror
Year 2000 is half over...Leuthold Paid To Play equity portfolio concentrated in Energy and Health Care up 7% in June, +33% YTD. Also, today’s huge valuation dichotomy.
View From The North Country
Many consultants and their clients have tightened the style boxes and narrowed the definitions to such a degree that it hamstrings the manager….and it’s detrimental to the client’s long term results.
Perception for the Professional
March 2026 Issue
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March 2026 Issue
