Cohen or anyone else making a blanket statement that 'P/E valuation support is intact' is so much garbage. I'd never claim to know what corporate profits will be in December of this year, but Cohen and all the other clairvoyants on Wall Street can, apparently, because she expects a 11% appreciation of the S&P this year. Awesome! So, I'm so happy and comforted to hear that corporate profits in December of this year will support current valuations. That's awesome! I wonder if Warren Buffet is similarly impressed. I'm sure he follows all of Abby Joseph Cohen's recommendations. Bring Ben Graham back from the dead and scold him for being so obtuse.
GS "analysts" pump the market before their traders short the piss out of it. Wasn't CL going to 100+?
My earlier reference to P/E on the previous page of this thread was not in respect of expected earnings, but actual earnings of record. Even so, I don't see a flaming "buy" signal on that basis, let alone based on what is "expected." My own view is that if this market continues to rise it will be on a strictly speculative basis rather than on a sound economic one. In the aggregate, of course.
Umm..the guy runs the biggest bond fund in the world...what is he supposed to do? Tell everyone to sell?
No...she's a shill..like all GS analysts...and why not? Why would they tell us what their positions are? Just like the poster above says "they say one thing, and do another". Creative deception. What's funny is that they usually end up being right, but not until the blood is flowing in the street. How does a company make so many 'BAD' calls and yet have record quarter upon record quarter upon record quarter upon record quarter upon record quarter upon record quarter upon record quarter upon record quarter upon record quarter upon record quarter upon record quarter upon record quarter upon record quarter upon record quarter upon record quarter upon record quarter upon record quarter upon record quarter...etc..
A provocative thought for you: Maybe millions of people have a job right now because the entire economy is built on sand and credit? I am not sure, but I will let the markets decide. Praying for a speculation bubble to persist so everybody and their mom can keep their jobs is a noble thought but eventually - if you were consequent - would call for socialism: employment regardless of longterm economic viability. Corrections are necessary to level the playing field and let the market decide what industries go down the drain and which survive and can thrive again.
No, I am currently not a mega-bull. But you Sir seem to be rather naive when it comes to market history. Do you always resort to such rhetorical hyperbole? I have noticed that you have posted over 40 times in the last two days and one really wonders if you actually trade?
Market history indicates corrections of 10% to 20% are common. Market history indicates that the stock market can trade sideways for decades. Market history indicates that bear markets happen. Yet Abbey Joseph Cohen rarely, if ever, has projected such a possibility. You might not be a mega-bull, but she is.