Green Book June 1988
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Featured Articles
Are Higher P/E Institutional Stocks Now Relatively Attractive?
Compared to low P/E institutional stocks, the high P/E institutional stocks are very cheap in terms of relative P/E’s. But don’t get too bullish yet. There is more to the story.
Joke of the Month
Old reliable, Roger Young of Criterion Investment Management in Houston comes up with another winner. He originally told this as a Texas Aggie joke, but because this is the North Country, I have taken the liberty of changing it to a Norwegian joke.
Scanning the Markets
Not much happened in May and the market has surged these first three trading days of June. May action is now very old news. Maybe you should just skip this section this month.
Somebody Out There DID Like the Market
The stock market did make a new low in May, a wimpy move below the twin lows of March and April. There was a lot of misery and retching on the part of professionals and technical types, but nothing much happened. Then our Early Warning Index of intermediate bottoms registered a buy signal.
The New “In Vogue” Game
I think the market looks quite impressive. Many of the formula types, the now in vogue “tactical asset allocators”, will have to scramble back into stocks if long bond rates continue to come down or if earnings growth assumptions go up.
View from the North Country
Special Situation Stock Research: An Update…Budget Deficits Feature Provokes Some Reader Response…National Economic Commission
“Is the Move in Secondary Stocks Over?”
No, the move in secondary stocks is not over. However, it is unlikely that the 1988 to date margin of small stock performance superiority will be sustained.
Table of Contents
Stock Market
- View from the North Country
- Somebody Out There DID Like the Market
- The New “In Vogue” Game
- Are Higher P/E Institutional Stocks Now Relatively Attractive?
Of Special Interest
Equity Strategies
At Random
Are Higher P/E Institutional Stocks Now Relatively Attractive?
Compared to low P/E institutional stocks, the high P/E institutional stocks are very cheap in terms of relative P/E’s. But don’t get too bullish yet. There is more to the story.
Joke of the Month
Old reliable, Roger Young of Criterion Investment Management in Houston comes up with another winner. He originally told this as a Texas Aggie joke, but because this is the North Country, I have taken the liberty of changing it to a Norwegian joke.
Scanning the Markets
Not much happened in May and the market has surged these first three trading days of June. May action is now very old news. Maybe you should just skip this section this month.
Somebody Out There DID Like the Market
The stock market did make a new low in May, a wimpy move below the twin lows of March and April. There was a lot of misery and retching on the part of professionals and technical types, but nothing much happened. Then our Early Warning Index of intermediate bottoms registered a buy signal.
The New “In Vogue” Game
I think the market looks quite impressive. Many of the formula types, the now in vogue “tactical asset allocators”, will have to scramble back into stocks if long bond rates continue to come down or if earnings growth assumptions go up.
View from the North Country
Special Situation Stock Research: An Update…Budget Deficits Feature Provokes Some Reader Response…National Economic Commission
“Is the Move in Secondary Stocks Over?”
No, the move in secondary stocks is not over. However, it is unlikely that the 1988 to date margin of small stock performance superiority will be sustained.
Stock Market
- View from the North Country
- Somebody Out There DID Like the Market
- The New “In Vogue” Game
- Are Higher P/E Institutional Stocks Now Relatively Attractive?
Of Special Interest
Equity Strategies
At Random
Perception for the Professional
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