Goldman Sach's Abby Cohen is Back with More Insane Calls
Unlike NAR's David Lereah (
http://davidlereahwatch.blogspot.com/) Abby Cohen does not know when to quit.
I posted to get out of stocks in DEC 2007 after after Cohen called for a 14% rise in the S&P in 2008.
Here is my post in DEC 2007:
SEL! SELL! SELL!!!!!!!!! Bear Market Confirmed! Goldman's Abby Cohen calls for S&P 500 Rising 14% by 2008' Recs 5
December 05, 2007 –
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Goldman's Cohen Sees S&P 500 Rising 14% by 2008's End
Abby Joseph Cohen was one of the most famous perma-bulls of the late 20th century. She was quoted everywhere. The market was going up. She kept predicting that it would go higher . . . even in 2000, after the tech stock collapse.
Now she says the S&P 500 will rise by 14% in 2008.
That is a bear market indicator -- not primary. She is always bullish. But it's a secondary indicator.
She stayed bullish on computer-related stocks for too long as the S&P 500 suffered a bear market from March 2000 to October 2002. Cohen said in October 2000 that technology shares would be a good investment in 2001. The S&P 500 Information Technology Index tumbled 26 percent that year. . . .
In December 2006, Cohen said the S&P 500 would climb to a record 1,550 this year. The index surpassed that level in July and went on to reach an all-time high of 1,565.15 in October. The S&P 500 then dropped 10.1 percent through Nov. 26, the steepest loss in four years.
Now GS insane sociopath is making some more calls. Business Insider has the story
here: http://www.businessinsider.com/goldman-sachs-abby-joseph-cohen-2010-9 0:55 It is highly unlikely that the U.S. government "politely defaults." As a democracy, the U.S. government is more likely to deal with this problem with inflation. The Treasury gets it, but state and local governments may not. 1:55 Interest rates aren't going to change anytime soon. Corporate bonds offer some opportunities. It will take some time for inflation or interest rates to increase. 3:10 A double dip is extremely unlikely, they don't happen very often, and the last time it happened Paul Volcker made it happen.
4:08 Jobs is the most important issue, and not just the short term. Labor market problems have been growing for a decade. The president has to address both the cyclical and structural employment issues. Read more: http://www.businessinsider.com/goldman-sachs-abby-joseph-cohen-2010-9#ixzz101qZtYzn
Here is the sociopath herself: