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Groups

Jan 09 2019

Blue Book - January 2019

  • Jan 9, 2019

Our group coverage spans most of the traditional groups as defined by Standard & Poor’s and Morgan Stanley Capital International. At times, we found ourselves in disagreement with the S&P/MSCI “standardized” group delineation, but this structure was maintained, with minimal modifications. We have, however, added additional component stocks to all groups and adopted our proprietary approach to component weightings.

Dec 06 2018

Blue Book - December 2019

  • Dec 6, 2018

Our group coverage spans most of the traditional groups as defined by Standard & Poor’s and Morgan Stanley Capital International. At times, we found ourselves in disagreement with the S&P/MSCI “standardized” group delineation, but this structure was maintained, with minimal modifications.

Nov 14 2018

Blue Book - November 2019

  • Nov 14, 2018

Our group coverage spans most of the traditional groups as defined by Standard & Poor’s and Morgan Stanley Capital International. At times, we found ourselves in disagreement with the S&P/MSCI “standardized” group delineation, but this structure was maintained, with minimal modifications.

Nov 07 2018

Leuthold Sector Rankings; Attractive & Unattractive-Rated Industry Groups

  • Nov 7, 2018

For the fifth consecutive month, the top-three rated sectors are Health Care, Consumer Discretionary, and Info Tech. The newly launched Communication Services sector (which replaces Telecom Services) debuts with a strong ranking in fourth place. Rounding out the bottom end of the rankings are Utilities, Materials, and Real Estate.

Jan 06 2018

Industry Group Dreams And Nightmares

  • Jan 6, 2018

For nearly three decades The Leuthold Group has tracked hypothetical portfolios composed of the previous year’s industry group “Dreams” and “Nightmares.”

Nov 07 2017

The Case Of The Disappearing Value Premium

  • Nov 7, 2017

Market history teaches us that investors behave differently in groups than they do as individuals.

Nov 05 2016

Earnings-Release Price Movement Among Sectors/Industries

  • Nov 5, 2016

Earnings season is not only important for fundamental investors, it can be equally so for quant managers. For quants that incorporate fundamental data, like us, historical trends and changes in consensus estimates may weigh heavily on model output.

Dec 08 2015

Highlighted Attractive Groups

  • Dec 8, 2015

A snapshot of Automotive Parts & Equipment, Large Cap Biotechnology, and Reinsurance.

Sep 10 2013

Industry Groups: No Need To Bottom-Fish

  • Sep 10, 2013

Buying global groups with strong price momentum has been a winning strategy. Will it continue?

Jun 07 2013

Just Four Groups Up This Week

  • Jun 7, 2013

Best Performing Industry Groups: Restaurants, Precious Metals, Health Care Technology, Apparel Retail, and Automotive Retail

Jan 07 2013

Nightmare Portfolio Comes To Life, Beats Dream Portfolio

  • Jan 7, 2013

Some of the best and worst performers of 2011 repeated their performance in 2012.

 

Jan 07 2013

Where To Buy In The Changing Landscape Of Advertising

  • Jan 7, 2013

Select Industries makes an Advertising buy, looking for the large integrated agencies to make their best pitch.

Dec 06 2012

Factor In Focus: Asset Growth Identifies Lack Of Capital Discipline

  • Dec 6, 2012

Asset growth is a factor that gets some attention, but not nearly as much as other more mainstream factors like price to earnings, earnings growth, etc. 

Nov 06 2012

New Positions In Select Industries Portfolio

  • Nov 6, 2012

Two groups were purchased in the Select Industries portfolio in late October: Health Care Services and Wireless Telecommunication Services.

Nov 06 2012

Correlations: Digging Deeper At The Sector & Group Levels

  • Nov 6, 2012

Correlations have been extremely elevated over the past few years when compared to historical levels. The question is, which parts of the market has this impacted the most?

Aug 07 2012

Checking In On Some Past Group Ideas

  • Aug 7, 2012

Updates for three groups we highlighted recently, including two domestic (Education Services and Automotive Retail), and one foreign-based thematic group, the Asia Healthy Tigers Index.

 

May 04 2012

Diversified Metals & Mining—A Popular Theme Revisited

  • May 4, 2012

After an incredible secular rise in both metals & mining stocks and industrial metals prices, which ended in 2008 after nearly a decade of upside, we take a look at where this group stands today.

 

Jul 05 2011

Variable Interest Entity Structure In Chinese Companies

  • Jul 5, 2011

Jun Zhu examines Chinese companies with Variable Interest Entity (VIE) structures. Investors shouldn’t be completely turned off by concerns over these structures, but it would be wise to heed the risks.

 

Mar 04 2011

Digging Deeper With Group Level Data

  • Mar 4, 2011

This month’s “Quantitative Strategies” section presents a preliminary look at some long term trends in Valuations and Profit Margins for specific industry groups.

Feb 04 2011

Less Is More: Refinements To Our GS Score Groups

  • Feb 4, 2011

Modest revisions were made to the industry groups that are evaluated by our GS Score framework. Driving objective was to make all groups more viable for investment consideration.

Sep 03 2010

Market Correlation And Group Rotation Strategy

  • Sep 3, 2010

New data series confirms unprecedented correlations in equity markets.

Feb 04 2009

January Market Action

  • Feb 4, 2009

Uncertainties are running high, and the stock market continues its struggle with a complex array of cross currents.

 

Jan 04 2009

December Market Action

  • Jan 4, 2009

2008 is over. We expect 2009 to be better since worst-case scenarios now seem less likely to play out.

May 06 2008

April Market Action

  • May 6, 2008

Relief finally came to Wall Street, not in the form of rebate checks or rate cuts, but from the strongest monthly returns since December 2003.

May 06 2008

What Early Cycle Leadership Looks Like… An Historical Perspective

  • May 6, 2008

In the spirit of historical market research, we thought it would be a good time to revisit which industry groups perform best from bear market lows.

Apr 05 2008

March Market Action

  • Apr 5, 2008

The moderate index level price moves from February month-end to March month-end didn’t give any indication of the wild swings that occurred during the days in between.

Mar 05 2008

February Market Action

  • Mar 5, 2008

The stock market continued to trend lower in February, with most broad indexes posting losses in the 2%-3% range by month end.

Feb 05 2008

January 2008 Market Action

  • Feb 5, 2008

To the extent that the January Barometer can still be trusted—and in judging its recent track record, it certainly can’t—the losses in January provide a foreboding message for the bulls in early 2008.

Jan 05 2008

December Market Action

  • Jan 5, 2008

December’s bi-polar price swings had screens flashing brilliant with traditional holiday colors of red and green.

Dec 05 2007

November Market Action

  • Dec 5, 2007

The venerable Wall Of Worry finally got to the stock market during November, with the major indexes losing their grip virtually right out of the gates.

Nov 05 2007

October Market Action

  • Nov 5, 2007

October marked new all-time highs for the S&P 500 and Dow Jones Industrials, while mid and small cap indexes like the Russell 2000, S&P 600 and S&P Mid Cap indexes, tested, but failed to take out their July-2007 highs.

Oct 03 2007

Outside The BLS, Inflation Is Alive And Well

  • Oct 3, 2007

This month’s “Of Special Interest” focuses on the inflation pressures into today’s marketplace.

Sep 05 2007

August Market Action

  • Sep 5, 2007

Not even the stock market gymnastics of late-February and March of this year could rival the kind of volatility  we saw in August.

Aug 05 2007

July Market Action

  • Aug 5, 2007

The Major Trend Index’s bearish reading put us on the right side of the market during the second half of July.

Aug 05 2007

Time For Some Defense? - Attractive AND Defensive Groups To Consider

  • Aug 5, 2007

Following the market rout of recent weeks, we imagine there are many clients sharing our nervous view of the stock market. For those clients, especially those managing long-only equity strategies, we thought it may be helpful to highlight some defensive groups that are scoring well in our group work.

Jul 04 2007

June Market Action

  • Jul 4, 2007

At a time when the public remains largely sidelined, corporations, private equity, and professional investors continue to take the U.S. stock market averages higher.

Jun 05 2007

May Market Action

  • Jun 5, 2007

It is getting increasingly clear that current stock market gains are being built upon the backs of corporate and private equity investors.

May 05 2007

Why Use Leuthold's Groups?

  • May 5, 2007

Clients who use our equity group work are well aware of the successful history of picking groups through the quantitative Group Selection Scores (GS Scores).

May 05 2007

April Market Action

  • May 5, 2007

The bulls remain in command as evidenced by the fact that the broad market averages continue their ascent toward new cyclical highs (or in some cases like the DJIA and Russell 2000—new all-time highs).

Apr 04 2007

March Market Action

  • Apr 4, 2007

The stock market spent much of March trying to climb out of the hole dug back on February 27th. But to date, the primary indexes are still below late-February’s cyclical highs.