J. Lyons Fund Management, Inc. Newsletter
|An Appealing Market - July/August 2016|
Re-examining the evidence, in favor of and opposed to, a further extension of the bull market
|Stay Of Execution For The Bull? - May/June 2016|
Positive developments in recent months may have extended the life of the bull market -- but for how long?
- Anatomy Of A Market Top, Part 2 - February/March 2016|
The last and most important bastion of the cyclical bull market in stocks - price - has finally broken down.
|2015 Charts Of The Year - December 2015|
|Red Skies in the Morning…
- October/November 2015|
Signs from the economy are not consistent with optimism suggested by a stock market near its highs.
- Anatomy Of A Market Top, Part 1 - August/September 2015|
Detailing the systematic deterioration in the internals of the stock market, now at depths historically seen only near major market tops.
|What’s Right Is Wrong, What’s White Is Black
- June/July 2015|
In contemporary society, the basic tenets of financial prudence have been turned upside down.
|This Time It IS Different!
- April/May 2015|
Policy and market response to financial challenges HAS been different this cycle -- so far.
|Risk Has Begun To Rein
- January/February 2015|
Investment in the riskiest assets has been on a relative decline, a trend that preceded prior major tops.
|2014 Charts Of The Year - December 2014|
|Durable Secular P/E Lows are Combination of P and E
- October/November 2014|
Extreme P/E lows resulting from both low prices AND high earnings allow for lasting long-term bottoms.
|Good News & Bad News
- August/September 2014|
Despite rising equity prices, the economic climate is less than stellar.
In Market Chemistry
- June 2014
While the S&P 500 is scoring new highs, weakness in high-beta areas threatens the stability of the rally.
Secular, Ahem, Bear Market Update
- April/May 2014
Despite new market highs, evidence still suggests that the post-2000 secular bear market is not over.
The Big Top
- September/October 2013
The conditions that have characterized cyclical tops within secular bear markets are presently in place.
Market: At (and On)
- August 2013
Fed-induced liquidity has resulted in a still-sputtering economy and a sketchy market at all-time highs.
- May/June 2013
Contrary to one bullish thesis, in reality retail investors are about as "in" the stock market as they're likely to get.
Circle: 2013 Secular Bear Market Update -
The market has (again) returned to its secular bear market high...will it break out or cycle back down again?
New Year! - December 2012/January 2013
The stock market is at a 5-year high...so why is everyone so unhappy?
Thin Market - October/November 2012
Underlying conditions supporting the cyclical rally are melting away, leaving the market vulnerable to collapse.
- August/September 2012
Due to insufficient repair, the rest of the secular bear market will likely be even weaker than lackluster precedents.
Last Chance? - July 2012
The current rally may be investors' last chance to seek protection before the third strike of this secular bear hits.
Times the Risk - June 2012
Long, medium and short-term bearish stars are aligning.
or Wishful Thinking? - May 2012
Recent encouraging data is likely buying investors time to seek shelter rather than a sign of a turn.
Street's Valuation Myth - April 2012
Are current P/E ratios actually cheap? Do they even matter? Exposing one of Wall Street’s favorite sales pitches.
10,263 - March 2012
An (unsolicited) addendum to Jeremy Siegel's Dow 15,000 call.
or Gallons? - February 2012
It is important (as always) to use 'appropriate' measures to analyze the current rally.
to Stand Still: 2012 Secular Bear Market Update
- January 2012
Stock market forecasts are dubious, especially when it comes to investing for retirement in this environment.
'Can't Afford Retirement Plan' - Part 2 -
Essential components of a successful investment plan.
'Can't Afford Retirement Plan' - Part 1 -
Most investors are operating with a fatally flawed investment plan - - or no plan at all.
Stock Market Cortisone - October 2011
Despite its dismal reputation, October has often provided a much needed "shot in the arm" to the market.
Course - August/September 2011
A historical look at stock market crashes...and most importantly, what to expect post-crash.
on Fumes - Part 2 - July 2011
How much fuel is in the U.S. investor tank - - and is it enough to propel us into a new secular bull market?
on Fumes - Part 1 - June 2011
How much fuel is in the U.S. household tank - - and is it enough to propel us into a new secular bull market?
Frog in the Boiling Economy - May 2011
Maintaining proper perspective can keep investors out of hot water.
in May and Go Away? - April 2011
Just how effective is this well-heard stock market adage...and should the strategy be deployed this year?
the Ides of April - March 2011
An April phenomenon has accurately forecast the outlook of typically strong 3rd Years of the Presidential Cycle.
Up, Americans - February 2011
There is a crisis in retirement preparedness in the U.S....and it's getting worse.
Lost Decade Ahead?: 2011 Secular Bear Market Update
- January 2011
Buy-and-hold investors who had 0% stock returns in the last decade may be in for more of the same in the next.
|The Crash of 2008 - What Now? - December 2010|
|Here Lies Buy-and-Hold - November 2010|