Skip to content


Jan 07 2022

Beware The Hot Air...

  • Jan 7, 2022

Mask mandates are back in vogue, and it’s investors who should be the first to welcome them: They’ll protect us from January’s blast of “thermal pollution,” when Wall Street prognosticators expel large volumes of hot air with prophesies for the new year. We have no problem with the exercise—so long as full-year forecasts (including one’s own) aren’t taken too seriously. “Forecasts are for show,” Steve Leuthold would always say.

Mar 07 2019

‘Green Book’ Wins Best Picture!

  • Mar 7, 2019

We’re almost at a loss for words! But we want to thank our parents, siblings, extended family, an eighth grade English teacher who doubted us for an entire year, and our golden retriever, Miley.

Aug 07 2018

Negative Feedback?

  • Aug 7, 2018

To summarize (and oversimplify), here are some of the frequent client responses to our prevailing “cautiously bearish” stance:

Jun 07 2018

What A Difference A Year Makes

  • Jun 7, 2018

Early this year we chatted with the retired founder of a Midwest investment management and research firm. After living and breathing markets for six decades, this bearded and iconoclastic character had avoided financial publications, Bloomberg, CNBC, and the like for more than a year.

Jul 08 2017

Special Announcement: James Paulsen, PhD

  • Jul 8, 2017

We are pleased to announce that James Paulsen, PhD, a leading investment strategist whose commentary is widely followed on Wall Street and across the country, has joined The Leuthold Group as our Chief Investment Strategist.

Jul 08 2016

What’s Past Is Prologue

  • Jul 8, 2016

It was thirty-three years ago today that I began my investment career as an equity analyst at The Bankers Life of Iowa (now known as Principal Financial Group). This month, my first as a gainfully employed member of The Leuthold Group’s research team, it seems natural to reflect back as a preface to my new adventure.

Jul 08 2014

Another Month, Another Milestone?

  • Jul 8, 2014

It’s often said the best bull markets surprise even the bulls, and the current one has certainly done that.

Nov 04 2009

Introducing Chun Wang

  • Nov 4, 2009

And now our final new analyst introduction (for the time being) of Chun Wang.


Oct 05 2009

Meet David Kurzman

  • Oct 5, 2009

Continuing our series of introductions of new members of the Leuthold team, this month we present our token New Yorker and bottom up Clean Tech stock picker David Kurzman.


Sep 04 2009

Taking a Different Stance on Hiring; Meet Sr. Analyst, Jun Zhu

  • Sep 4, 2009

Our first introduction is of Jun Zhu, who broke the mold by not being another white Midwestern guy.


May 06 2008

Worth Noting... A Scary Top Ten List

  • May 6, 2008

Former Morgan Stanley strategist Byron Wein—now at Pequot Capital—publishes an annual list of potential market and economic “surprises” that has become a must read for institutional investors. Along the same lines, Wired magazine listed ten potential threats to what it calls the “Long Boom”. (Warning: This list might make The Leuthold Group look cheerful).

Oct 04 2002

View From The North Country

  • Oct 4, 2002

“Managing Your Mother Lode”—Ten Commandments: outline of Steve’s speech for the Jim Fraser’s Contrary Opinion Forum.

Feb 05 2001

View From The North Country

  • Feb 5, 2001

Will Wall Street See More “Sells”? Expect some changes, but most important development may be a rise in gutsy, independent institutional research. Also, decimalization: an unanticipated bonanza for NYSE specialists.

Dec 05 1999

View From The North Country

  • Dec 5, 1999

“Restrictive Guidelines And Pressure To Outperform”, an excellent article by Walter Cabot appearing in the July/August 1998 Financial Analysts Journal.

Dec 05 1998

Day Trading Frenzy: This Too Shall Pass

  • Dec 5, 1998

In one of our California meetings, the trading frenzy in the Internet stocks came up.

May 05 1998

View From the North Country

  • May 5, 1998

If you’ve been in this business 30 years you’ll remember Adam Smith’s “The Money Game”. Read it again. Those who never read it, find a copy. Also, the results of our 1998 reader survey and a parody worthy of the “Bawl Street Journal” provides the first totally honest daily stock market report.

Mar 05 1998

View From the North Country

  • Mar 5, 1998

Equity managers increasingly fear the career danger of holding cash. Sagging stock prices have led a growing number high tech firms to reprice employee stock options. The importance of humor and laughter in life and in business.

Dec 02 1997

Worth Noting

  • Dec 2, 1997

New Era investment professionals, crowding onto the money train and a different way to look at the economic impact of bear markets.

Mar 05 1997

Worth Noting and Quoting

  • Mar 5, 1997

Reasonable valuations(?), risk reductions and the wealth effect.

Feb 04 1997

Comparing Public And Professional Stock Market Expectations

  • Feb 4, 1997

85% of mutal fund holders expect the next ten years of stock market performance to match or exceed the last ten years.

Jan 04 1997

View From The North Country

  • Jan 4, 1997

Thermal pollution time...Steve Leuthold offers his 1997 views and 1996 reviews on U.S. stock market, interest rates, economy, etc.

Dec 05 1996

View from the North Country

  • Dec 5, 1996

Excerpts from Leo Melamed’s new book. Former Chairman of the "Merc” (home of S&P futures), gives insider view of 1987 stock market crash. Also, my first annual letter to mutual fund shareholders is reprinted here. You want to know what I really think about the stock market?...Here it is.

Nov 05 1996

View from the North Country

  • Nov 5, 1996

Scarce on Wall Street: “SELL” recommendations. Why? Also, The Great American Weight Gain: How can the typical American really consume so much in a single year?

Aug 05 1996

View From The North Country

  • Aug 5, 1996

A one of a kind prospectus from Buffett, a must read unless you have already seen it.

Aug 05 1994

View From the North Country

  • Aug 5, 1994

Our associates at Weeden & Co. have made the big switch, moving their headquarters and trading center from New York City to Greenwich.

Aug 05 1993

View from the North Country

  • Aug 5, 1993

Gambling fever remains in the heartland. Also, recognizing that times have changed, recognizing that seriousness and sensitivity are on the increase, The Leuthold Group now plans to publish an “abridged” version of this publication. In this “A” version, all non-investment related editorial content and features will be eliminated.

Mar 07 1993

Steven C. Leuthold: Fundamentally Technical

  • Mar 7, 1993

Back in December, Steve Leuthold was interviewed by Thom Hartle, editor of Stocks and Commodities. The following is reprinted from the March 1993 issue of the magazine. Some readers may be surprised to learn the origins of The Leuthold Group were "technical" not fundamental. Some may also be surprised that our "Group leader", an avid student of long term economic and market history, is also a short term trading speculator.
Note: Leuthold's picture is somewhat dated, taken back in the days before the beard turned gray. We believe the color change is the direct result of this commodity trading.

Dec 05 1992

View from the North Country

  • Dec 5, 1992

Polling the Pros on the West Coast…Lottery or Lootery?...Time for “Lean and Mean” In the “Not For Profit” Sector

Nov 05 1992

View from the North Country

  • Nov 5, 1992

Cold Fusion, A Cheap Energy Solution Or Just Fiction?...The Gambling Binge, Some Background And Some Investment Implications...October 1987, Remembered

May 05 1992

Answering Your Questions?

  • May 5, 1992

A few weeks ago, Alan Abelson, editor of Barron’s, interviewed Steve Leuthold concerning our now cautious attitude towards the U.S. stock market. Alan Abelson asked many of the questions you may have.

Mar 05 1992

View From The North Country

  • Mar 5, 1992

We appreciate your response to our client survey questionnaire. As of February 28th your comments were still coming in.

May 05 1991

View from the North Country

  • May 5, 1991

In April, polls were taken at the South Florida Financial Analysts Society and at Leuthold Group luncheons in Minneapolis, Chicago, Baltimore and Toronto.

Feb 01 1991

View from the North Country

  • Feb 1, 1991

While the New Zealand stock market did rally 7%-8% in January, it has few friends, not even in those few remaining New Zealand brokerage firms.

Jan 07 1991

View From The North Country

  • Jan 7, 1991

Each January we publish the gold book (Perception II) before this, the green book.

Jan 07 1991


  • Jan 7, 1991

Last month this publication discussed a "New Tax Selling Seasonal Factor" in the stock market resulting from the new mutual fund deadline for tax loss selling being October 31 instead of year end.

Aug 01 1990

View from the North Country

  • Aug 1, 1990

Polling the Financial Analysts Seminar...Welcome Aboard Mike Hamilton...Program Trading And Politics

Sep 01 1989

View from the North Country

  • Sep 1, 1989

In Memory of Ken Smilen...Unreal estate...New Zealand and Australian Market Update...Japanese Market and Copper

Aug 01 1989

We Need More Dean Witters

  • Aug 1, 1989

Last month Dean Witter announced they were getting out of the program trading business. Maybe some other big retail oriented brokerage firms will follow suit. A blowout day on the downside may be all that is needed.

Jul 01 1989

View from the North Country

  • Jul 1, 1989

The Early Warning Work: Have We Found The Keys To The Kingdom?....The Wisdom Of Paul Miller....New Zealand and Australia Updates

May 01 1989

“The Boys Are Back in Town"

  • May 1, 1989

After the 1987 crash, a goodly portion of the program crowd retired. But now, some 18 months after the debacle, a major part of the program crowd is clearly out of retirement, back in action.