InvesTech : Technical and Monetary Investment Analysis

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In The News...

Predictions about the stock market are a dime a dozen, but InvesTech's accuracy in gauging market risk is a rarity. That's because our decisions are firmly grounded in technical and fundamental analysis, which allows us to always remain objective. Here's a look back at our track record over the past decades through the eyes of the media...

James Stack - Why a Top Money Manager is Shifting Toward Value
“The majority of this cycle has seen growth and momentum style investments outperform at the expense of value stocks. This dynamic, however, has reached an extreme and may now be in the process of reversing."
Yahoo! Finance – November 20, 2019

Stack on Stocks: Is it Time for Gold?
“When times are tenuous, gold and gold mining stocks have historically provided excellent portfolio diversification."
MoneyShow – August 12, 2019

Spotting the next bear market, from money manager James Stack, who sidestepped two of them
“If the next bear market took back just half of this current bull market’s gains, it would mean a loss of close to 40%...the question is when will it start?"
MarketWatch – July 25, 2019

Analyst Who Called the 2008 Housing Bust Warns That the Fed Can't Prevent a Market Collapse
“The bottom-line message from past history is that, if we are on a recessionary course, either by the level of debt or the level of overconfidence in the economy, the Fed may not be able to prevent it even with multiple rate cuts,” he said.
Barron's – July 24, 2019

These 4 called the last financial crisis. Here's what they see causing the next one
"...the biggest danger, Stack told me, is from low-quality corporate debt. Issuance of corporate bonds has "gone from around $700 billion in 2008 to about two and a half times that [today]." And, he added, more and more of that debt is subprime. Uh-oh."
MarketWatch – September 13, 2018

After Dow 25,000, the Party Has to End. But When?
On Thursday, the Dow broke the 25,000 barrier for the first time, and technology stocks are soaring to new highs. Cryptocurrencies like Bitcoin are adding a whiff of bubblelike mania. And that may not be such good news for investors. "If there are any certainties, one will be that this party will eventually come to an end," Mr. Stack said. "...And when it ends, it will end badly, and with high volatility."
The New York Times – January 4, 2018

This veteran investor nailed the last housing bubble and now expects another
"Money manager James Stack says U.S. home prices are dangerously inflated." – September 16, 2017

Buy? Sell? Politics May Move the Market, but Rarely for Long
"By and large, “investors should tune out political events,” said James B. Stack, president of InvesTech Research and Stack Financial Management, who has done a study of what he calls “crisis events” and their effect on markets... “Underlying economic trends and monetary policy are far more important...” Mr. Stack said: 'We still believe this market will hit new highs in 2017, but the low volatility and the high valuations suggest this is not a low-risk market. It’s not a market in which you should be investing large sums of new capital.'"
The New York Times – May 25, 2017

Best Places to Get Investment Advice
“Our favorite source for forecasting the direction of the market is InvesTech Research. Publisher Jim Stack analyzes economic and market data to recommend stock allocations in his monthly newsletter.”
Kiplinger – January 2017

The Bull Market Isn’t Over Yet
"That’s the word from my longtime favorite market strategist, Jim Stack. Stack, who edits the InvesTech Research newsletter, has become increasingly bullish in the past few months—and I think he’s right. Why listen to Stack? Because he has a terrific long-term record... "
Kiplinger – August 24, 2016

Best Sources for Investment Advice
"Best Stock Market Letter: InvesTech Research, which promises 'safety-first profits,' has bested the overall stock market over the long haul with less risk. Publisher James Stack analyzes economic, monetary and market data (some going back more than 100 years) to make market calls and recommend allocations.”
Kiplinger – December 2015

The Four Best Investment Newsletters for Funds
"Jim Stack's InvesTech Research newsletter, whose motto is 'safety first,' is no stranger to readers of this column. His mix of fundamental and technical indicators strikes me as well thought out. Thanks to some awesome market calls, InvesTech's recommendations have returned an annualized 8.7% over the past 15 years–an average of 4.1 percentage points better than the S&P. Over those years, the letter ranks number three among the 25 fund letters Hulbert has followed that long. The letter's recommendations have been one-third less volatile than the S&P index, helping propel InvesTech to the number-two ranking in Hulbert's universe on a risk-adjusted basis." – November 18, 2014

Advisers Who Deliver Low-Anxiety Returns
An honor roll of investment services that performed better than average in up and down markets over the past 12 years.

Wall Street Journal – May 16, 2014

Rising Rates Won't Kill Market Gains
"... the man I consider the best market historian and technician of our time: Jim Stack, editor of the InvesTech Research Newsletter."
Terry Savage, – July 16, 2013

Jim Stack: Still right – and still bullish
"Having called the beginning of this bull market in 2009 when virtually nobody else (including yours truly) did, Stack has stuck to his guns ever since." – February 8, 2013

3 Reasons the Bull Market Will Continue
Jim Stack thinks the three-year-old market advance will continue for quite some time. Here's why. – March 8, 2012

Jim Stack was right, and he's still bullish
Bull Market has more room to run in 2012 – February 24, 2012

Stock Market Picks 90 Percent of Presidential Elections
"InvesTech Research, an investment firm out of Montana, says the stock market is the most reliable indicator of who will win the presidency and has been for more than 100 years."
U.S. News & World Report – February 24, 2012

Best Market Newsletter: InvesTech
"Market letter publisher James Stack isn't one to be blinded by periodic market manias, and he hews to a "safety-first" philosophy. His base in Montana, far from Wall Street, helps, too."
Kiplinger's Personal Finance – December 2011

Living Large in Small Places
"My other small-place hero is Jim Stack, the financial newsletter writer and money manager. Stack is already famous and many FORBES readers will know his name..."
Forbes – December 5, 2011

No bear market, no recession, smart bull says
Commentary: Stack's favorite indicators aren't flashing red – August 19, 2011

Taking Advantage of the Downturn
Market Selloffs Are Never Fun. But There Are Ways for Smart Investors to Capitalize.
Wall Street Journal – August 6, 2011

Riding an Aging Bull
Newsletter writer and financial advisor Jim Stack isn't keeping much money in cash these days, but his three fund picks highlight a defensive stance.
Barron's – July 9, 2011

Stocks: More Room to Rally
"The trading pattern that has dominated the markets for the past year could be breaking down – and that could spell opportunity for investors."
Wall Street Journal – July 9, 2011

Sell in May and Go Away?
Not quite. Here's what Jim Stack, a top market prognosticator, says investors should do. – May 20, 2011

This Bull Market Has Room to Run
Investment adviser Jim Stack's recent calls have been on the money. Here's why he thinks stocks will continue to rise.

"[Jim Stack] called the onset of the 2007-2009 bear market almost to the day and timed the start of the current bull market nearly as well." – November 2, 2010

Why Three Bears Turned Bullish
Veteran analysts tell why they think stocks are heading up.

"Jim Stack was one of the most vocal bears of 2008... In March 2009 [he believed] that the market was approaching the buying opportunity of a lifetime."
Kiplinger's Personal Finance – June 2009

"'Regardless of whether one argues that the bear market bottom is at hand, or still lies ahead, it is a historically indisputable fact that we are heading toward a buying opportunity of a lifetime,' said James Stack, a money manager and publisher of InvesTech Research. These are not the words of some raging bull. Stack is among the most conservative money managers in America..."
Dallas Morning News – April 1, 2009

"In August of 2005, you warned our viewers of an impending real estate bubble. In January of 2007, you told us a bear market was in the offing and then last July you warned the financials and the home builders still had plenty of downside risk. Great calls, Jim, I compliment you."
Paul Kangas, Nightly Business Report –March 27, 2009

Time to Say Goodbye to the Bear?
"A savvy market watcher [James Stack], who has been correctly bearish on stocks, says the next bull market will likely start soon – and it should be a big one." – March 10, 2009

"Chuck Allmon, 88, will retire the stock newsletter he has been writing since 1965... Allmon has chosen Jim Stack, of InvesTech Research, to advise his subscribers. That choice is just more evidence of Allmon's great market insight, since Stack is one of the most disciplined, and successful, newsletter writers in the business."
Chicago Sun-Times – December 22, 2008

"'The difficulty lies in the wild card, and that is the downturn in the housing cycle,' says Jim Stack, president of Stack Financial Management and editor of InvesTech Market Letter. Indeed, housing starts and permits dropped in August to their lowest level since 1995. 'We clearly have not seen the bottom in the housing bust,' Stack says... 'It's better to err on the side of caution than to be swinging for home runs right now.'"
U.S. News & World Report – September 22, 2007

Newsletter editor gets defensive
"Jim Stack, editor of the InvesTech newsletter, says that 'Bull markets don't die of old age, they die from deterioration and economic imbalances, and we are seeing economic imbalances now.'" – September 6, 2007

"Now investors are wondering if the housing market's problems will spill over into the economy. 'Housing is the one wild card that could, if it takes consumer confidence down with it, take the economy into a recession,' says James Stack of InvesTech Research... Could the housing troubles yank the broad stock market into a morass just as the tech-stock implosion did in 2000?... 'The parallel is amazing,' Stack says."
USA Today – July 31, 2007

Muttering the 'R' Word
Some on Wall Street spy a recession on the horizon

"'The blocks are in place for a recession in 2007,' says James Stack, editor of the InvesTech Market Analyst newsletter."
U.S. News & World Report – July 16, 2006

Get financially literate with these sources
"I always read Jim Stack's InvesTech newsletter as he's got a great market track record. I really like his historical and technical perspective."
Terry Savage, Chicago Sun-Times – August 18, 2005

"James Stack, editor of the InvesTech Market Analyst newsletter in Whitefish, Mont., became increasingly bearish on stocks as they rocketed in the late 1990s. But he sees a much different market today. 'This is the best value-hunting environment that we have had in a decade,' Stack said."
Chicago Tribune – October 28, 2003

"Jim Stack puts out InvesTech, a crisply written and information-filled newsletter. Jim hangs out in Whitefish, Mont., and, we can attest, he's an exceptionally savvy fellow."
Alan Abelson, Barron's – January 6, 2003

"Jim Stack of InvesTech Research was the only panelist to correctly predict both a recession and a bear market in 2001."
Paul Kangas, Nightly Business Report – January 1, 2002

"Jim Stack was a the technology-bubble era of 1999 and early 2000. Today, he is rightly considered a hero for warning subscribers of his InvesTech market newsletter, and anyone else who would listen, away from stocks as they climbed toward their peaks and then careened into the worst decline in a generation."
Los Angeles Times – December 9, 2001

"Mr. Stack has often been a lonely voice. More significantly, he's often been right... In the late 1990s, he consistently cautioned investors about the dangers of the speculative bubble gripping Wall Street."
Dallas Morning News – August 19, 2001

"Technical analyst and market historian Jim Stack has made some very prescient stock market calls... The majority of Stack's seven key conditions were in place in each of the market's nine best-buy opportunities since 1966."
Worth – March 2001

"In years to come, I have no doubt that we will look back on Jim Stack's '1997 New Paradigm Bubble' report as one of the most important warnings in the history of investing. Those who ignore Stack's compelling arguments today do so at their own peril."
James U. Blanchard III, Jim Blanchard's New Orleans Investment Conference – July 1997

"Of the hundreds of newsletters I've followed for the at least 10 years, only four stock letters and two mutual fund letters have beaten the market on a risk-adjusted basis over the entire period that I've tracked them. InvesTech is the least risky of the letters...with about 43 percent less risk than the stock market as a whole."
Medical Economics, Mark Hulbert – June 10, 1996

Which Eggs, Which Baskets?
"Risk-adjusted performance is no mere theoretical issue...[InvesTech's] performance smooths out that of the stock market. It lags the market in rallies (like now). But it also appears more or less impervious to declines. As a result, InvesTech has been ahead of the market for significant periods--not merely after the 1987 crash but also very quickly during the brief 1990-91 decline."
Forbes – October 23, 1995

What Ails This Market
"Interviews with Robert Farrell, Ned Davis and James B. Stack… Each has an unmistakable technical streak – but is nevertheless astonishingly accurate."
Barron’s – March 28, 1994

"Jim’s distrust of the herd has served well the readers of his two InvesTech newsletters, which helped investors both to sidestep the ’87 Crash and to make money thereafter. (No mean feat, since most gurus who succeeded at the one failed at the other.) And his forecast for 1992 – based on technical analysis informed by a strong grasp of fundamentals – proved uncannily correct."
Barron’s – January 11, 1993

Ten Top Newsletters That Shine Over Time
"The Top Choices for Fund Investors: InvesTech Mutual Fund Advisor"
Money – July 1992

The top six investment newsletters 1986-1990
"If you followed the recommendations given in the newsletters listed below, your returns for the five years through Dec. 31 would have been outstanding… InvesTech Mutual Fund Advisor +109.1%"
Medical Economics – March 18, 1991

"'This market certainly has shown some vicious teeth. The evidence suggests we have dropped into a bear market from the standpoints of breadth, leadership and economics.’ James B. Stack."
Barron’s – September 10, 1990

How a Bear Market Can Devastate a Portfolio
"'Most people think of bear markets in terms of the short-term consequences, believing that there’s no problem to recover and average a healthy return in the long-run,' said James B. Stack, president of InvesTech Research. 'They don't realize that one bear market can rob them of more than two-thirds of their potential return over a six to 10-year period.'"
Wall Street Journal – September 22, 1989

"From his office overlooking Whitefish Lake in the Rocky Mountains of Montana, Jim Stack foresaw the stock market crash of Oct. 19. On Sept. 30, his InvesTech newsletters told stock investors to move to 94% cash. Mutual fund investors were advised to go to 75% cash and leave the rest in a precious metals fund."
USA Today – January 4, 1988

Only Five Newsletters Predicted Plunge...
"Hulbert's Financial Digest is also bullish on InvesTech Market Analyst, a northwestern Montana newsletter published by James Stack. After the Dow peaked in August, he advised investors to put 60 percent of their holdings in cash; by October 5, it was 88 percent. The last stock in his model portfolio was sold Oct. 16, three days before the crash. Stack said monetary conditions and technical factors pushed him toward caution."
The Washington Post – October 22, 1987

"[James Stack] A technician from the Northern Rockies who's been beating the city boys at their own game."
Louis Rukeyser, Wall $treet Week – October 11, 1985

"Jim Stack is going to be recognized as one of the top market analysts in the country within a very short time."
Timer Digest – September 9, 1985

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