Goldman Sachs Says Abby Cohen to Stop Making S&P 500 Forecasts

Discussion in 'Wall St. News' started by mokwit, Mar 17, 2008.

  1. Goldman Sachs Says Abby Cohen to Stop Making S&P 500 Forecasts

    By Lynn Thomasson

    March 17 (Bloomberg) -- Abby Joseph Cohen, the most bullish investment strategist on Wall Street this year, will stop making Standard & Poor's 500 Index forecasts for Goldman Sachs Group Inc.

    She was succeeded in the role by David Kostin, Goldman's U.S. investment strategist, spokesman Ed Canaday said in a telephone interview. Kostin today predicted the S&P 500 may fall 10 percent to 1,160 before rebounding to 1,380 by year's end. Cohen, as chief investment strategist, last predicted the benchmark for American equities would end 2008 at 1,675, representing a 32 percent rally from its current level.

    The 56-year-old Cohen now has the title ``senior investment strategist'' and contributor to the portfolio strategy team, according to Canaday. Her prediction for the S&P 500 this year was the highest among 14 Wall Street forecasters followed by Bloomberg.

    ``She will continue to meet with our clients around the world and provide commentary on financial markets focusing more on longer-term market activity,'' Canaday said in an e-mailed statement.

    To contact the reporter on this story: Lynn Thomasson in New York at lthomasson@bloomberg.net.

    Last Updated: March 17, 2008 11:43 EDT


    Translation: GS admits Cohen is full of sh*t and frankly has become an embarrassment.
     
  2. avarus

    avarus

    I can offer them my forecasts for a substantial charge.
     
  3. OK 1 broker down, and now 1 perma bull down...A few more and I might start buying.
     
  4. Who needs her forecasts? It's 15% discount of S&P.
     
  5. Lucrum

    Lucrum

    BINGO !
     
  6. [​IMG]

    "I see a lot of value out there."

    "I am very bullish at this time."

    "I see the S&P rising 38% this year."

    See ya', Abby.
     
  7. AJC has always been & remains a joke........she`ll fade into the dust just like Acampora/make `em poorer.
     
  8. Oh THANK GOD!

    Won't say anymore, just, thank you (huge exhale). :D
     
  9. Is that a hint that GS is going under? :D
     
  10. Chood

    Chood

    No, just the opposite . . . because the GS prop desk has made so much dough shorting while Abby has been pumping that it now must cover and needs to switch to a bearish forecaster for that purpose.

    (PS I see smiley emoticon and so know that I probably am saying only what is the MOST obvious.)
     
    #10     Mar 17, 2008