Furey’s Insights

Below is a complete list of all the research that we have produced, in chronological order.

Small-Cap Thoughts: Increased Potential Bernanke Leaves Fed in Jan

06/18/13 -

Small-Cap Thoughts: Increased Potential Bernanke Leaves Fed in Jan '14
QTD Performance Led by Consumer Discretionary, Staples and Health Care

The market awaits the Fed post meeting comments Wednesday, which in our view will likely be a non-event.  What could be an event is Bernanke’s exiting the Fed Chairmanship and equity prices discounting the uncertainty surrounding a transition to a new unknown Chairman.  Late Monday (EST) Obama comments from the G-8 indicating Bernanke has stayed on longer than Bernanke desires increases the probabilities Bernanke leaves when his term expires Jan. 31st, 2014.  Markets have a way of testing a new Fed Chairman and we don’t expect a Bernanke transition to be any different introducing an equity market risk.  It’s not a done deal Bernanke leaves but Obama’s comment Monday (and Bernanke not attending Jackson Hole’s August meeting indicate it’s increasingly likely Bernanke (wants to) exits the Fed.

  • Dividend yield stocks are lagging badly recently and is signaling bonds and high yielding stocks may be out of favor.  Bullish for small-cap stocks.  Leverage is also falling out of favor, though less so than yield.
  • The Consumer Discretionary sector is leading QTD relative performance, outperforming the S&P 600 index by 660 bps. 
  • Our R2000 quality monitor indicates the higher quality quintiles have generally been underperforming QTD.

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06/13/13
Unemployment and Market Returns | login req
05/22/13
Insights from the Road | login req
05/22/13
Our Marketing Deck | login req
05/13/13
The Reawakening of Young Ambition | login req
05/09/13
Master Economic Data Index Update | login req
04/19/13
Searching for the Tell | login req
04/01/13
Small-Cap Thoughts | login req
03/22/13
Master Economic Data Index Update | login req
03/20/13
Examining Small-cap Correlation | login req
03/18/13
Fed Wealth Effect Monitoring | login req
03/05/13
A Walk Through our Outlook | login req
02/28/13
Breaking Out is Hard to Do | login req
02/27/13
The Optimistic Old Man Revisited | login req
02/19/13
Small Cap Thoughts On My Mind | login req
02/07/13
On My Mind | login req
01/30/13
R2000 Stock Returns Dispersion | login req
01/09/13
Data Dabbling in Pretty Pictures | login req
12/19/12
Master Economic Data Index Update | login req
11/30/12
Understanding QE’s Dirty Secret | login req
11/12/12
Diagramming the Fiscal Cliff | login req
11/07/12
Elections Have Consequences | login req
11/02/12
Master Economic Data Index Update | login req
09/27/12
Battle of the Breakout | login req
09/26/12
Musings | login req
09/18/12
Low Quality Leadership Study | login req
09/06/12
Master Economic Data Index Update | login req
09/05/12
Charting Around the World | login req
07/30/12
Monday Morning Musings | login req
07/25/12
Thoughts on the High Yield Market | login req
07/19/12
Evening Charts focus on Energy | login req
07/16/12
Monday Morning Musings | login req
07/09/12
Monday Morning Musings | login req
07/02/12
4th Ideas Summit Key Takeaways | login req
05/03/12
Small-Cap Earnings Growth Breadth | login req
04/25/12
Long-term Adjusted P/E (LTAPE) | login req
03/29/12
Evening Charts HPT MLP RLH SKT | login req
03/28/12
Conditions Remain Solidly Bullish | login req
03/22/12
Blue Chips Send a Bullish Message | login req
03/08/12
Is the Low Quality Rally Over? | login req
02/16/12
Studying Refi Activity | login req
02/06/12
Buyer Capitulation? Not Yet! | login req
01/30/12
Drivers to Stocks Firing | login req
01/12/12
Tantalizing Banks | login req
01/03/12
Our Year Ahead Outlook | login req
12/21/11
Unemployment and Small-Caps | login req
10/24/11
What is Working in the 4Q Rally | login req
10/19/11
Thoughts | login req
10/10/11
The Remarkable Greenwich Express | login req
10/06/11
Earnings and Europe | login req
09/08/11
Thoughts and Green Shoots | login req
08/26/11
The Great Investor | login req
08/22/11
Monday Morning Musings | login req
07/18/11
Monday Morning Musings: It's Time | login req
07/13/11
Technical Chart Book 7.13.11 | login req
07/11/11
Unleash the Beast, Mr. President | login req
06/20/11
Technical Chart Book | login req
06/08/11
Analyzing Sober Bernanke Speech | login req
05/19/11
Small-Cap Margins Ex-Financials | login req
05/12/11
Troubling 10-Year Yields | login req
05/05/11
Cyclically Adjusted Small-Cap P/E | login req
04/18/11
Monday Morning Musings | login req
04/04/11
What Would Bernanke Do? | login req
03/24/11
A Fictional Monetary Conversation | login req
03/21/11
Small-Cap PM Survey Results | login req
03/14/11
Monday Morning Musings | login req
02/24/11
Equity Markets Glass Half Full | login req
02/18/11
Technical Model Portfolio Update | login req
01/19/11
Technical Model Portfolio Update | login req
01/06/11
The Case for Small-Caps | login req
01/04/11
Hungry for Equities | login req
01/03/11
An Inspiring Story | login req
12/13/10
2011: Our Year Ahead Outlook | login req
11/11/10
Employment Poised to Brighten | login req
11/08/10
Monday Musings | login req
11/01/10
The New Equity Bull Market | login req
10/18/10
Monday Morning Musings | login req
09/28/10
Being Ben Bernanke | login req
09/20/10
Conversation with a Wise Old Man | login req
09/09/10
Looking for Optimistic Signs | login req
08/10/10
Fed Moves Do Not Excite Us | login req
07/07/10
Three Special Studies | login req
06/24/10
Climbing Down the Mountain | login req
05/21/10
Bears Sure are Confident | login req
05/07/10
Correction or Collapse | login req
01/11/10
Health Care Stocks with Momentum | login req
01/04/10
2010 Outlook | login req
12/21/09
Humorous Strange Cocktails | login req
10/29/09
The Inevitable Correction | login req
08/26/09
Housing Puts in a Bottom. | login req
06/08/09
“Small-Caps & Unemployment” | login req
04/29/09
“Energy Stocks with Momentum” | login req
04/26/09
“Leading Technology Stocks” | login req
04/06/09
“1Q09 Small-Cap Dream Team” | login req
03/30/09
“Small-Cap Valuation” | login req
03/18/09
“Homeward Bounds” | login req
03/09/09
“Charts for a Monday Morning” | login req
01/05/09
“2008 Year-End Letter” | login req

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