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Individual Investors Still Love Apple

 August 17 2016     David Templeton
From time to time I review the most active stocks by individual investors as compiled by Better Investing Magazine. I last updated the list in March and the two stocks that dropped off of the most active list from that time are Under Armor (UA) and Netflix (NFLX). The new additions are Wells Fargo (WFC) and Southwest Airlines (LUV). Apple (AAPL) has remained at the top of the list as far back as J...

Should Investors Worry More About A Bond Or Stock Market Correction?

 August 16 2016     David Templeton
A great deal of commentary over the past few days has focused on the recent equity market trifecta, i.e., the Dow Jones Industrial Average, the S&P 500 Index and the Nasdaq Composite Index all hit new all time highs on the same day and the heightened potential for an equity market correction. Over the past week or so, LPL Financial Research has published some good analysis around the broad index p...

History Suggests Record Equity Market Highs Do Not Mean Investors Should Sell Stocks

 August 11 2016     David Templeton
In late January and then in mid February I wrote posts noting our firm's positive view on the equity markets (here and here). It was a difficult position to take at the beginning of the year with the market in decline. As of the close today. and the first time since 1999, the S&P 500 Index, the Dow and the Nasdaq hit highs on the same day. Both the Dow and S&P 500 Index are up nearly 7% year to da...

Buyback Index Trails Broader S&P 500 Index

 August 8 2016     David Templeton
In an article earlier today I noted how corporate buybacks over the last two plus years have far outpaced U.S and foreign investors' outflow from equity investments. This strength in buybacks has not translated into outperformance for these buyback firms relative to the S&P 500 Index though. As the below chart shows, the cumulative total return performance of the Powershares Buyback Achievers ETF ...

Most Everyone Is Bearish On Equities Except Companies

 August 8 2016     David Templeton
Last Friday the S&P 500 Index closed at its daily high of 2,182.87 and this equated to a 20.6% advance since the February 11th intra-day low. In spite of this strong advance from the February low and a price only return of 6.8% this year, most investors remain bearish on stocks.This bearishness has translated into equity outflows of mutual funds and ETFs with bond investments capturing much of the...

Jobs Were The Missing Link?

 August 5 2016     David Templeton
The equity market's reaction to the above consensus job report today would make one believe the only missing link in the economic recovery was today's job's report. The 255,000 increase in nonfarm payrolls exceeded the consensus of 185,000 and the top range of 215,000. The end result is the S&P 500 Index was able to breakout of its sixteen day trading range.I will not repeat what Scott Grannis had...

The Gift of Education

 August 4 2016     Anna Pfaehler
The National Center for Education Statistics lists the average tuition, fees, room and board costs of in-state public, 4-year colleges at $18,632 and private, 4-year colleges at $37,990 for the 2014-2015 school year.  Because this is an average, half of schools in the U.S. are more expensive. For example, my alma mater estimates total cost of attendance at $65,490. A quality college education...

Oil And Equity Price Trend Conundrum

 August 2 2016     David Templeton
A part of the anticipated improvement in forward earnings for the S&P 500 Index is an improvement in the energy sector. The health in the energy sector has spillover into other sectors of the market like the industrial sector that sells into the energy space. Of late, however, oil prices have pulled back significantly from over $50/bbl in June and dropping below $40/bbl yesterday. This decline in ...

Income Oriented Equities Lag In July

 July 30 2016     David Templeton
In a few recent posts I have discussed the elevated valuation of dividend growth equities. It would appear bond investors have gravitated to the anticipated safety of equities that generate dividend income greater than can be found in the low rate bond market. The extended valuation of these income equities/sectors may result in investors being surprised in the event the market does encounter a pu...

Sentiment: Bullish Institutions Versus Bearish Individuals

 July 28 2016     David Templeton
This week's NAAIM Exposure Index was reported at 101, only the fifth time the exposure index has been reported above 100 since the index's inception on July 5, 2006. The NAAIM Exposure Index consists of a weekly survey of NAAIM member firms who are active money managers and provide a number which represents their overall equity exposure at the market close on a specific day of the week, currently ...
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