Jeffrey Saut's Blog

Chief Investment Strategist

Jeffrey Saut joined Raymond James in September 1999 as one of the managing directors of research working with the senior managing director Bob Anastasi. He also serves as the firm's Chief Investment Strategist. Previously, Mr. Saut was managing director of research at Roney & Co., which was acquired by Raymond James & Associates. Prior to that, he was managing director of equity capital markets for Sterne, Agee & Leach, Inc. His responsibilities there included equity research, investment banking, institutional sales, and syndicate. After graduating from St. Andrews in 1971, Mr. Saut began his career on a trading desk in New York City and became the trade desk manager in 1972. In 1973, he joined E.F. Hutton, where he began following equities and writing research. He subsequently worked as a securities analyst for Wheat First Securities, and then Branch Cabell, where he ran the equity research group as director of research and acted as portfolio manager for the firm's affiliate, Exeter Capital Management. In addition, as director of research he built the research and institutional sales departments for the regional brokerage firm Ferris, Baker, Watts, Inc. and subsequently Sterne, Agee & Leach, Inc. Mr. Saut is well known for his insightful and colorful commentary regarding the stock market and makes regular appearances on Wall Street Week, CNBC, Bloomberg TV, USA Networks, Fox TV, NPR, and many local radio and TV networks. He is also often quoted in The Wall Street Journal, New York Times, Barron's, Washington Post, Business Week, U.S. News and World Report, Fortune, SmartMoney, as well as on many websites like MSNBC and TheStreet.com.

The Most Hated Economic Recovery Ever!

By Jeff Saut – So a concerned Raymond James financial advisor (FA) emailed us yesterday with the question: "Jeff, I know you have connections in Washington and wanted your take on how the mid-term elections are shaping up...

All-Time High

By Jeff Saut – So, we are finally back after a week in Boston, a week in New York, and a week in San Francisco. Our missions were to see portfolio managers and do some gigs for our financial advisors (FAs) and their clients...

Not Afraid!

By Jeff Saut – We have used the “Not Afraid” story many times over the past 48 years, but we dredged it up again this morning because of the many questions about “being afraid” we got in Boston two weeks ago...

When Smart People Talk, We Listen

By Jeff Saut – We don’t know how long ago we met Frederick “Shad” Rowe, but we are glad we did because our conversations with him have been net worth changing. Recall that Shad is the founder and portfolio manager...

Stealth Bull Market?

By Jeff Saut – On CNBC last Friday, we stated that we have been in a stealth bull market. Indeed, after anticipating the stock market’s bottom in early February, the stealth bull market emerged. So what’s a stealth bull market?

Smoot-Hawley?

By Jeffrey Saut – What’s the big deal about steel and aluminum? Well, the world’s global steel production is about 1.7 trillion metric tonnes. China is by far the largest producer, accounting for an eye-popping 49% of that 1.7 trillion metric tonnes...

Do You Have the Mental Fortitude to Accept Huge Gains?

By Jeff Saut – What a great question! I recently reread the above quote from Bob Prechter. It’s an excellent quip and virtually everybody can identify with it. On the surface the question seems laughable; who can’t accept huge gains?

Investment Strategy: The Curve

By Jeffrey Saut – Much has been written recently about the yield curve. According to Wikipedia: In finance, the yield curve is a curve showing several yields or interest rates across different contract lengths (2 month, 2 year, 20 year, etc.) for a similar debt...

Anticipating the Anticipations of Others

By Jeffrey Saut – We have used the aforementioned quote many times over our nearly 50 years in this business, but surprisingly, it is just as relevant now as it was when first written. Bet it surprised you that the quote is dated 1935...

It’s the End of the World as We Know It (and I Feel Fine)

By Jeffrey Saut – The Butter Battle Book is a 1984 rhyming story by the late, great Dr. Seuss and a personal favorite of mine from back in “the day.” Written as a thinly-veiled critique of the Cold War, the book proceeds in a rather predictable manner...

The Ambergris Factor

By Jeffrey Saut – Ladies and gentlemen, investing is a lot like whaling. Investors are constantly searching for that whale of a stock with the “right stuff” . . . aka the “ambergris factor.” Indeed, there have been many such “whales” on the Street...

Stock Market Getting Ready for a BIG Move; Risk to the Downside

“Pull” is a term used in shooting sporting clays, which are supposed to represent real birds and sharpen the shooter’s ability to actually hunt live birds. The term is yelled by the shooter to tell the person operating the trap to launch...

Market Looking Toppy; Exercise Patience

I spent last week climbing the mountains of Idaho and Utah, seeing accounts and doing presentations for our financial advisors and their clients. In my absence, the stock market did some climbing of its own as the S&P 500 (SPX/2378.25) came...

Equity Markets at an Inflection Point

The translation and interpretation of the news can play a crucial role on Wall Street. This is especially true when it comes to public perception. Importantly, the financial media plays a dominant role when it comes to...

SAUT: Fade the Fed, Markets Now Dependent on Fiscal Policy

Something similar to this “new queen bee” story is happening now. The “old queen” has been the Federal Reserve and monetary policy. The “new queen” appears to be the White House and fiscal policy. The White House seems...

randomness