Ground Control To Abby Joseph Cohen

Discussion in 'Wall St. News' started by ByLoSellHi, Oct 12, 2008.

  1. Abby Joseph Cohen predicted 1675 on the S&P be year end! Here's hoping to a 60% rally in equities over the next two months and two weeks, Abbey!!!

    Mazel tov!!!

    She has good company, though; she's right up there with Tobias Levkovich.

    1675 is the prediction from Abby Joseph Cohen, Goldman Sachs; and Tobias Levkovich, Citigroup

  2. aresky


    March 17 (Bloomberg) -- Abby Joseph Cohen, the second-most bullish Wall Street strategist at the start of the year, was replaced by Goldman Sachs Group Inc. as the bank's chief forecaster for the U.S. stock market.

    Cohen, 56, gave up the title of chief investment strategist and will no longer make predictions for the Standard & Poor's 500 Index in her new role as senior investment strategist, Goldman spokesman Ed Canaday said in an interview. David Kostin will make the calls as U.S. investment strategist.

    Kostin, 44, said today he expects the benchmark index for U.S. stocks to fall 10 percent to 1,160 before rebounding to 1,380 by year's end. Cohen in December predicted the S&P 500 would reach 1,675 in 2008.

    ``Sounds like it's a downgrade in a position,'' said Andy Engel, who helps manage $4.3 billion at Leuthold Weeden Capital Management in Minneapolis. ``People have been disappointed in her outlook over the years, and she's been pegged as overly bullish on the market.''

    Her calls on the market in 2006 were more accurate. Cohen said on June 13, 2006, that stocks had fallen too far and the S&P 500 would rebound to 1,400 by year end. The index set its low for the year that day and finished 2006 at 1418.3.

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