Green Book May 1994
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Featured Articles
A Fresh Look at Upside and Downside Potential
Even after the March correction, this valuation exercise uncovers only limited upside (+15% to 1987 peaks) and significant downside (-25%, back to median valuations).
Buy California?
Another of our many new sectors over the last two years: "Buy California?" Not yet part of the Leuthold Equity Portfolio, but looks interesting.
Defensive Sectors: A Performance Check
A performance check on defensives for the last two months.
Inside the Bond Market
Weight of the evidence discipline remains negative, but market now in 7.50%-8.00% accumulation zone. Yield curve looks like it may be flattening out.
Investor Attitudes: Polling the Pros in April
Leuthold "Polling the Pros" reveals that the consensus looks for a correction on a three month basis. One year poll has more balanced outlook.
Joke of the Month
Printable joke flow has been low for the last month or so.
Major Trend Index Still Says Bear
Major Trend still in "negative" territory and continues to deteriorate. Downside equity market risk viewed as significant.
Scanning the Markets
A performance rundown for The Leuthold Group's equity market sectors (and other measures) ranked by April performance.
Supply/Demand Considerations
New equity supply running $1.5 billion per week, with U.S. focus equity fund inflows now about $0.7 billion per week (no longer in balance).
View From the North Country
Economic expansion now 40 months old...Yes, it has been somewhat anemic, but nevertheless it may be well past middle age. Getting real about risk: risk is not the same as volatility.
Table of Contents
Stock Market
- Major Trend Index Still Says Bear
- Supply/Demand Considerations
- Defensive Sectors: A Performance Check
- Investor Attitudes: Polling the Pros in April
- A Fresh Look at Upside and Downside Potential
- View From the North Country
Of Special Interest
Macro Monitor
Equity Strategies
At Random
A Fresh Look at Upside and Downside Potential
Even after the March correction, this valuation exercise uncovers only limited upside (+15% to 1987 peaks) and significant downside (-25%, back to median valuations).
Buy California?
Another of our many new sectors over the last two years: "Buy California?" Not yet part of the Leuthold Equity Portfolio, but looks interesting.
Defensive Sectors: A Performance Check
A performance check on defensives for the last two months.
Inside the Bond Market
Weight of the evidence discipline remains negative, but market now in 7.50%-8.00% accumulation zone. Yield curve looks like it may be flattening out.
Investor Attitudes: Polling the Pros in April
Leuthold "Polling the Pros" reveals that the consensus looks for a correction on a three month basis. One year poll has more balanced outlook.
Joke of the Month
Printable joke flow has been low for the last month or so.
Major Trend Index Still Says Bear
Major Trend still in "negative" territory and continues to deteriorate. Downside equity market risk viewed as significant.
Scanning the Markets
A performance rundown for The Leuthold Group's equity market sectors (and other measures) ranked by April performance.
Supply/Demand Considerations
New equity supply running $1.5 billion per week, with U.S. focus equity fund inflows now about $0.7 billion per week (no longer in balance).
View From the North Country
Economic expansion now 40 months old...Yes, it has been somewhat anemic, but nevertheless it may be well past middle age. Getting real about risk: risk is not the same as volatility.
Stock Market
- Major Trend Index Still Says Bear
- Supply/Demand Considerations
- Defensive Sectors: A Performance Check
- Investor Attitudes: Polling the Pros in April
- A Fresh Look at Upside and Downside Potential
- View From the North Country
Of Special Interest
Macro Monitor
Equity Strategies
At Random
Perception for the Professional
March 2026 Issue
Featured Articles
Sector Navigator
March 2026 Issue
