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.

Déjà Vu?

“It’s like Déjà vu all over again.” —Yogi Berra. I loved Yogi Berra! First as a baseball player, who in his 19-season career played in 18 All-Star games and on 10 World Series Championship teams, and then as a manager and coach. He always had...

What Now?

I got an email last week that read, “What do I do now?” I replied, “I don’t know what you mean.” She wrote back, “I didn’t buy the February lows that your model told us to buy and I didn’t buy any of the stocks on your ‘buy list’...

Baby Don't Go

The year was 1964 when Reprise Records released the song “Baby Don’t Go.” Written by Sonny Bono, and recorded by Sonny & Cher (Cherilyn “Cher” Sarkisian), the song became a smash hit and set the duo’s career in motion.

Secular Bull Market Has Years Left to Run

“Nothin’ from nothin’ leaves nothin’ (Billy Preston)” . . . is the first line from Billy Preston’s hit song “Nothing From Nothing” recorded in 1974 on the album “The Kids & Me.” It was a song one of my bands used to play in an era long gone by.

Market Bubbles

Market bubbles occur when the price of an asset significantly deviates from its intrinsic value. There have been numerous bubbles predicted in my 20 years as a professional investor. Fortunately, only two, from the perspective of US investors...

I Think Icahn

Last Thursday was session 53 in the “buying stampede” and it was going along swimmingly. Well, I guess the surprise “no stimulus” announcement out of Japan caused an early morning stutter-step, but the equity markets seemed to stabilize...

Wait Until You Get a Pitch Right Where You Want It!

One of the most successful investors in history received the only A+ from Professor Benjamin Graham (of Graham and Dodd “Security Analysis” fame) at Columbia: the chairman and chief executive officer at Berkshire Hathaway, Inc.,

The Philosophy of Tops

For decades, I have used the aforementioned prose from iconic market guru Justin Mamis in my market commentary. For those of you who have seen the quote before, I urge you to read it again. For those seeing it for the first time...

Panic?

The markets (any market) are seldom surprised by shocking events. But during those rare instances when a surprise catches the market a panic may result. My definition of a panic is this: A panic is a collapse (triggered by fear and unforeseen...

A Banana?!

When Herb Stein, chairman of the Council of Economic Advisers in the Gerald Ford administration, was admonished by his boss not to use the word "recession" to describe a recession, he complied, reluctantly. "From now on," he told...

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