Green Book August 2008
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Featured Articles
A New "Internal" Low In Stocks: Implications
Price momentum now indicating there may still be one more leg down in this bear market. Typically, price lows come after momentum lows, and a new momentum low was hit in mid-July. Similar analysis of NYSE New Highs/New Lows data supports this conclusion.
Booster Shot Of Health Care...Activating Pharmaceuticals & Health Care Facilities
Initiating new portfolio positions in Health Care Facilities and Pharmaceuticals. Former Generic Pharma portfolio holdings now being rolled into the broader Pharmaceuticals group.
CPI Expected To Peak Near +5.5%
Inflation should be cooling off as the U.S. economy contracts and global economies show signs of slowing.
Commodity Curtain Call?
Inflation is peaking and the GS Scores did a great job signaling an exit from the Industrial Metals play. Commodities were hit hard in July.
Rebounding M&A Activity
Today’s takeovers appear to make better strategic sense, and are coming at the hands of companies with good credit ratings, strong balance sheets, and good cash positions. This month’s “Of Special Interest” looks at the possibility that a rebound in M&A activity could heal an ailing stock market.
The GDP Report: “Exhuming McCarthy”
Significant disconnect between GDP Deflator and CPI. Recent GDP report implies a 1.1% inflation rate. It is ridiculous to assume the inflation rate is that low with the CPI at +5.5%.
What If We Don't Bottom Around Median Levels?
While we continue to believe in our market bottoming thesis, we thought it may be useful to examine those periods when the P/E ratios continued to fall to the 10x to 12x earnings levels.
Yearning For Those Summer Doldrums...
In the past, Wall Street activity slowed in August as professionals headed for the beach. However, the “Hyper-connected Era” has changed all that, as evidenced by higher market volatility in recent years during July and August.
Table of Contents
Stock Market
- Yearning For Those Summer Doldrums...
- Commodity Curtain Call?
- A New "Internal" Low In Stocks: Implications
- What If We Don't Bottom Around Median Levels?
Of Special Interest
Equity Strategies
Inflation Watch
A New "Internal" Low In Stocks: Implications
Price momentum now indicating there may still be one more leg down in this bear market. Typically, price lows come after momentum lows, and a new momentum low was hit in mid-July. Similar analysis of NYSE New Highs/New Lows data supports this conclusion.
Booster Shot Of Health Care...Activating Pharmaceuticals & Health Care Facilities
Initiating new portfolio positions in Health Care Facilities and Pharmaceuticals. Former Generic Pharma portfolio holdings now being rolled into the broader Pharmaceuticals group.
CPI Expected To Peak Near +5.5%
Inflation should be cooling off as the U.S. economy contracts and global economies show signs of slowing.
Commodity Curtain Call?
Inflation is peaking and the GS Scores did a great job signaling an exit from the Industrial Metals play. Commodities were hit hard in July.
Rebounding M&A Activity
Today’s takeovers appear to make better strategic sense, and are coming at the hands of companies with good credit ratings, strong balance sheets, and good cash positions. This month’s “Of Special Interest” looks at the possibility that a rebound in M&A activity could heal an ailing stock market.
The GDP Report: “Exhuming McCarthy”
Significant disconnect between GDP Deflator and CPI. Recent GDP report implies a 1.1% inflation rate. It is ridiculous to assume the inflation rate is that low with the CPI at +5.5%.
What If We Don't Bottom Around Median Levels?
While we continue to believe in our market bottoming thesis, we thought it may be useful to examine those periods when the P/E ratios continued to fall to the 10x to 12x earnings levels.
Yearning For Those Summer Doldrums...
In the past, Wall Street activity slowed in August as professionals headed for the beach. However, the “Hyper-connected Era” has changed all that, as evidenced by higher market volatility in recent years during July and August.
Stock Market
- Yearning For Those Summer Doldrums...
- Commodity Curtain Call?
- A New "Internal" Low In Stocks: Implications
- What If We Don't Bottom Around Median Levels?
Of Special Interest
Equity Strategies
Inflation Watch
Perception for the Professional
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