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Two sarcasm reports in the same day? What can it mean!
Goldman's Cohen Replaced as Chief S&P 500 Forecaster (Update5)
``I'm sure there are people out there who will feel a great sense of loss'' from Cohen no longer giving S&P 500 forecasts, said John Wilson, co-director of equity strategy at Morgan Keegan, which manages $120 billion in Memphis, Tennessee. ``More power to her. I'm sure she's looking forward to working on longer-term ideas.''
I'm sure there are people out there who had great losses.
Cohen, who was the top-ranked strategist in Institutional Investor magazine's surveys in 1998 and 1999, stayed bullish on computer-related stocks for too long as the S&P 500 suffered a bear market from March 2000 to October 2002. She said in October 2000 that technology shares would be a good investment in 2001. The S&P 500 Information Technology Index lost 26 percent that year.
Cue the clowns and dancing bears!
See Also:
Abby Joseph Cohen vs. Abby Joseph Cohen
It is a good day to be a bear, again.
Real Estate Newsletter Articles this Week: Existing-Home Sales Increased to
4.15 million SAAR in November
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At the Calculated Risk Real Estate Newsletter this week:
[image: Existing Home Sales]*Click on graph for larger image.*
• NAR: Existing-Home Sales Increase...
13 hours ago
2 comments:
Stag,
Abbey Joseph Cohen's statements should have a warning label: CAUTION! History has shown that following Abbey's advice is hazardous to your wealth.
That bit from your 11/2007 post where Abbey claimed (in 2002) that the U.S. wouldn't experience deflation similar to Japan because our banking system is so strong is scary. Prophetic. Or is it pathetic?
How about a new investment vehicle: the 32X leveraged inverse Abbey ETF. The ultimate bubble market investment.
It's no wonder Goldman is cutting off her public forecasts. Given her perfect record, you certainly don't want to share her advice for free.
MAB,
Given her perfect record, you certainly don't want to share her advice for free.
No, I think I'd expect to be paid. I'm picturing a financial seminar at a motel near the airport now.
How You Can Be Worth a Million Dollars!
We'll pay you $100 to find out!
Fine Print: To get the $100 you must have a net worth of TWO million dollars and enroll in our "basically solid" financial timeshare system.
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