V.11:3 (112-117): Steven C. Leuthold: Fundamentally Technical by Thom Hartle

Steven C. Leuthold: Fundamentally Technical Institutional investment strategist and researcher Steve Leuthold brings almost 30 years of investment experience to his positions as chairman of the Leuthold Group, an investment research organization, and chairman of Leuthold & Anderson, an investment management firm. The Leuthold Group, which has more than 300 professional clients, publishes several monthly newsletters and produces Quantitative Themes, a value and growth stock screening product Leuthold, who is the author of The Myths of Inflation and Investing, is also general partner in Leuthold Weeden and Associates, developer of AdvantHedge, a quantitative short selling program. STOCKS & COMMODITIES Editor Thom Hartle spoke with Leuthold via telephone on December 18, 1992, on topics ranging from market approach to investor flexibility.

Steve, you're known for the blend of technical and fundamental components in your research. What helped you develop this market approach?

I was a history major in college, and to this day I place a lot of emphasis on the historical aspect of my research. Law school wasn't rewarding for me, so from there I went to work for Cargill, a large grain firm. I wanted to trade grains on the Chicago Board of Trade, but after waiting more than a year for an opening, I decided to become a commodities broker with Paine Webber in Minneapolis. But there I wasn't directly involved in commodities trading, so I felt out of touch with the market. So I switched to being a stockbroker at Paine Webber.