Capituation
Apr
05
1995
Reducing Equities Below Normal Minimum
Reducing equities below normal minimum for the first time since the summer of 1987. Intrinsic Value work is now quite overvalued and approaching 1987 peak valuations. However, a 1987 type crash is not expected.
Jun
05
1993
Sticking With The Disciplines: Caution
Our disciplines don't currently provide much latitude, and the disciplines have usually proven to be better than the instincts. Thus, this publication's attitude remains cautious.