Green Book October 1998
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Featured Articles
Energy…Global Giants: Oil Could Be a Slick Investment
New sector activated with a focus on the major oil companies from around the world.
Health Care...Biotechnology: New Sector Addition in Portfolio
We are activating the biotech sector in the Paid to Play Portfolio. The SS Score jumped to Attractive this month.
Inside the Bond Market
T-bond achieves Leuthold long term target of 5%: hedge fund turmoil and Asia induced flight to quality has helped drive rates down too far, too fast. When some of the short term distortion subsides, yields could pop back up.
Insider Block Measures...Big Block Buying Picking Up
On balance, latest week’s big block sells still outnumber the (record high) big block buys, but falling average providing some evidence of improving sentiment of corporate insiders.
Joke of the Month
This month’s winner comes from Bob Alder, at Tempest Isenhart in Denver. Perhaps I am unduly influenced by the book I am currently reading. The story involves Blackbeard, the most successful and ruthless pirate ever.
P/E Ratios and Low Inflation
Using history as a guide, today’s low inflation environment is no justification for the current P/E.
Scanning the Markets
Phones, Drugs, Biotech, and Utilities among leading equity sectors in Q3.
September Mutual Fund Flows
Based on our estimates of mutual fund inflows at various market levels, it looks like more fund owners are now under water. About $116 billion was invested in the market above current levels. Nervous but not panicked mutual fund investors.
September: The Best Month of a Terrible Quarter
September the best month of a terrible quarter. October could present some opportunities.. This could be an exceptional bounce year. Major Trend remains Negative. Recommended strategy: Maintain maximum allowable defensive equity.
View From the North Country
The downside of leverage...lesson better off learned early in one's career, rather than later. Expanding our emerging Asia Pacific coverage to include ADRs. Observations from a Russian visit.
Volatility update...Whole Lot of Shaking Going On
There is a whole lot of volatility in the market currently, more than investors have come to expect...42% of Q3 days were high volatility.
Table of Contents
Stock Market
- September: The Best Month of a Terrible Quarter
- September Mutual Fund Flows
- Insider Block Measures...Big Block Buying Picking Up
- Volatility update...Whole Lot of Shaking Going On
- View From the North Country
Of Special Interest
Macro Monitor
Equity Strategies
- Energy…Global Giants: Oil Could Be a Slick Investment
- Health Care...Biotechnology: New Sector Addition in Portfolio
- Scanning the Markets
At Random
Energy…Global Giants: Oil Could Be a Slick Investment
New sector activated with a focus on the major oil companies from around the world.
Health Care...Biotechnology: New Sector Addition in Portfolio
We are activating the biotech sector in the Paid to Play Portfolio. The SS Score jumped to Attractive this month.
Inside the Bond Market
T-bond achieves Leuthold long term target of 5%: hedge fund turmoil and Asia induced flight to quality has helped drive rates down too far, too fast. When some of the short term distortion subsides, yields could pop back up.
Insider Block Measures...Big Block Buying Picking Up
On balance, latest week’s big block sells still outnumber the (record high) big block buys, but falling average providing some evidence of improving sentiment of corporate insiders.
Joke of the Month
This month’s winner comes from Bob Alder, at Tempest Isenhart in Denver. Perhaps I am unduly influenced by the book I am currently reading. The story involves Blackbeard, the most successful and ruthless pirate ever.
P/E Ratios and Low Inflation
Using history as a guide, today’s low inflation environment is no justification for the current P/E.
Scanning the Markets
Phones, Drugs, Biotech, and Utilities among leading equity sectors in Q3.
September Mutual Fund Flows
Based on our estimates of mutual fund inflows at various market levels, it looks like more fund owners are now under water. About $116 billion was invested in the market above current levels. Nervous but not panicked mutual fund investors.
September: The Best Month of a Terrible Quarter
September the best month of a terrible quarter. October could present some opportunities.. This could be an exceptional bounce year. Major Trend remains Negative. Recommended strategy: Maintain maximum allowable defensive equity.
View From the North Country
The downside of leverage...lesson better off learned early in one's career, rather than later. Expanding our emerging Asia Pacific coverage to include ADRs. Observations from a Russian visit.
Volatility update...Whole Lot of Shaking Going On
There is a whole lot of volatility in the market currently, more than investors have come to expect...42% of Q3 days were high volatility.
Stock Market
- September: The Best Month of a Terrible Quarter
- September Mutual Fund Flows
- Insider Block Measures...Big Block Buying Picking Up
- Volatility update...Whole Lot of Shaking Going On
- View From the North Country
Of Special Interest
Macro Monitor
Equity Strategies
- Energy…Global Giants: Oil Could Be a Slick Investment
- Health Care...Biotechnology: New Sector Addition in Portfolio
- Scanning the Markets
At Random
Perception for the Professional
March 2026 Issue
Featured Articles
Sector Navigator
March 2026 Issue
