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Shocker: Joseph Cohen (Abby) Says Recession Is Over, S&P Headed To 1,300
Goldman's distinctly feminine A. Joseph Cohen is out with the latest prognostication. Punxsutawney Abbey must have not seen her shadow yet again, resulting in a call for 6 more decades of Dow at 36,000, or in this case S&P hitting 1,300 by the end of the year. The fact that blind monkey, with a penchant for dart (and/or feces) throwing have had a more successful track record than AJC is irrelevant, yet disturbing. To wit: On a CNBC appearance in March 2008, she predicted S&P 500 at 1550 by end 2008, In an August 10, 2007 appearance on CNBC the Oracle of nothing predicted the S&P 500 would rally to 1,600 by December; In December 2007 A. Joseph predicted the S&P 500 index
would reach 1,675 in 2008 (the S&P 500 traded to less than half, or 741.02, in
November 2008).
In a Bloomberg radio interview AJC said:
“We do think the market overall is likely undervalued,”
Cohen, 57, said on Bloomberg Radio. “The recession is over and
has been over for several months. Not every sector recovers at
the same pace. We’d be looking in some of those areas focusing
on economic improvement.”Cohen said technology shares and commodities producers are
attractive because of the prospects for revenue growth and
improved demand. The industries have both gained 77 percent
since the S&P 500 dropped to a 12-year low on March 9, 2009.The top-ranked strategist in Institutional Investor’s
surveys in 1998 and 1999, Cohen 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 stocks would be a good investment in 2001. The
S&P 500 Information Technology Index then tumbled 26 percent.
The take home here is that Institution Investor sure know how to spot a momentum chasing permabull when they see one.
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The Peter Principle personified.
"Punxsutawney Abbey" !!!!! LOL
PS: Abbey is a jinx.
Agreed. Another favorite phrase.
"Orcale of nothing" Ha! Good one. :)
Absolutely hilarios!" Punxsutawney Abbey" ranks up
there with, "...resume polisher extraordinaire,
Timothy Franz Geithner" LMAO
this was my favorite part... "The top-ranked strategist in Institutional Investor's surveys in 1998 and 1999..."
sh*t. even i could have been a top-ranked strategist at that time.
this page/article in particular is acting really goofy (i.e., loading slowly, not loading at all, etc.). not sure why...
go into your browser settings and set the 'crap' filter to a lower threshold
the the opposite she says
Amen! PBS re-aired Frontline's "The Warning"---The story of CFTC's Brooksley Born who warned of the derivatives crashing the financial system during the Clinton years. Sad to see her railroaded by the same scum who should stand trial for high treason---namely Greenspan, Rubin, L. Summers, Phil Gramm, Levitt et al. Report: Financial Crisis Will Only Get Worse
They were hailing the mumbling fumbler Greenspan as "the wizard".
The recession is over and has been over for several months...
How many times do we have to be told this before we finally believe it???
After all the shadow inventory hits the market and prices finally bottom out?
Oh yea, and when people have jobs again.
What is the current AR-15 to jobless ratio?
That is a very important economic figure that is overlooked in weekly reports.
2:1 in my house! I even got a little shortbarrel for the lady. She's a special gal.
by Master Bates on Tue, 02/09/2010 - 19:08 #224178
Please note goldbugs:
Gold will decline tomorrow. It tested previous support levels as resistance today. The 1080 level will not be breached tomorrow.
I just wanted this prediction where you call could read it. Gold bitchez, and good night.
by Master Bates on Tue, 02/09/2010 - 22:47 #224395
How about this... if I'm wrong, I'll STFU. If not, I'll keep posting these predictions for the benefits of my fellow gold bitchez crowd.
Gold at 1,116 as I type this. Now you should be a man and.......STFU. Two things you should know. Number one, when the markets are exposed to this much manipulation and intervention, TA doesn't work. You may as well start reading goat entrails, your predictive powers would be about the same. Number two, Gold bugs on here own physical, not paper crap. They don't own gold to trade it based on a 5 minute chart. They own it to preserve their wealth in he face of an epic fiat currency fail. Good luck in the future but I would be lying to you if I said I will miss your anti-gold, pro-worthless paper, posts.Buy a 416 converstion... you will be much happier.
And all the the guns in the world... dont make the broader populace any less ignorant of what goes on... Basicly, educating the broader populace so that "They" may or may not be able to understand why "They" are screwed... to hope that enough of "Them" have a set of balls to do something about it... "You" get the point I am sure, "We" as a people... get what "We" deserve... when "We" vote... Team Bush, was a Lobby Puppet... Team Obama, is the exact same thing... a Lobby Puppet... and people still believe there is a difference between the two?
Back to the subject.. finding ammo... may be a lil more difficult as the bottom of the market falls out again.. after the Secondary Government Titt dries up...
http://www.imf.org/external/np/seminars/eng/2008/bondmkt/pdf/key.pdf
http://zfacts.com/p/318.html
http://defeatthedebt.com/?gclid=CNmshfHu-Z8CFZhf2god3x8sWg
http://moneymorning.com/2009/03/20/fed-plan/
@Master Bates,
How many gallons of lead paint did you drink as a child?
Sherrick?
repost from prior thread since I didn't see this story yet. in light of the World Gold Council report posted earlier, this is a pretty interesting story on gold and gold mining stocks from an interview with Mark Johnson, who runs the USAA Precious Metals and Minerals Fund
http://www.goldalert.com/stories/Gold-Price-Rises-to-1121-Gold-as-Insurance
I think people should pay a lot more attention to what Mr. Johnson has to say rather than AJC, who ain't that intelligent, to say the least.
Dolar up... equals gold down...
Buy Low... Sell High... If there is 15% - 20% left in gold? why risk it with all of the other trades that are available?
http://www.istockanalyst.com/article/viewarticle/articleid/3842826
It is a safe bet... for a "W" recovery... its insurance, maybe... if not a loss to write off.
thanks...i see what you mean
Report: Financial Crisis Will Only Get Worse
Goldman wants the market to go higher so the don't get heat for the Grecian swaps which becomes an issue if the market falls apart again.
Funny how she is dragged out to pump the market in cahoots with O'Neil's if I say it enough it must be true mantra. If memory serves when the market was tanking back in 2008 it was annoucned that AJC would be stepping back to do work at the foundation and a new "strategist" was introduced. What happened
She's a man, baby! -Austin Powers
Good. Given her track record I can be more confident that we will be at or below the March 09 low by the end of the year.
How did I do Mr.Blankfein?
I swear on my life - how is she still employed? Her track record is worse than your average weather man for crying out loud!
A lot of people say, "What's that?" It's Jo!
A lot of people ask, "Who's he? Or she?"
A ma'am or a sir, accept him or her
or whatever it might be.
It's time for androgyny.
Here comes Jo!
BS! The only thing keeping the US machine going is the stimulis, now with 32 billion per month! Read more at: http://money.cnn.com/2010/02/16/news/economy/stimulus_one_year_anniversa...
Is the recession over? Magic 8-ball says: Maybe
Is Abby J Cohen right this time? Magic 8-ball says: Definitely
As reliable as any of our market mavens - http://web.ics.purdue.edu/~ssanty/cgi-bin/eightball.cgi
Np problem front running, either.
The magic 8 ball knows more than Google
Read her words carefully. In all the time she has been on, I defy anyone to tell me a time she said "I" in connection with a prediction or statement about the markets. It is 100% always "WE" think, "WE believe", "WE predict"... she's never apparently had an original opinion of her own in her entire career.
Either that or you have no idea how Wall Street works, since using the first-person plural pronoun is the standard convention in all published research.
i have been following her for a while time, couldn't figure out man/woman, she “always” said we. there is no I in team. ajc would do well in ZH with a bag over her face.
lindsey vonn GOLD Au bitches, julia mancuso Ag bitches.
Need 3 bags, 1 for her, 1 for u ( in case hers falls off) & 1 for the dog - so he'll respect u in the morning.
Seems unlikely, but in this market, who the hell knows.
The most I know is that we're 11, almost 12, months closer to the next bear market than we were last March. Where that bear market starts from is unknown, though.
.
.
I look to the Amazing Kreskin when it comes to stock market predictions...
Cohen is very very lucky to have a job at all....
And this could only be because of "knowing somebody"....
Less than 0 credibility....and a lousy track record....
Throw some darts....
Throw some bones on the ground....
For what reason does this person get paid ?
For what ?
Eh... so what?
Just like Roubini, Faber, Roach, Grantham, et. al. have been calling the 2008 recession and crisis since 1995?
Its probably her turn again. UP, UP, UP!
-BBH
how the f* does she keep her job?
This Tribe doesn't have jobs. They have sincures, guaranteed by their genetic heritage.
About a year ago I was reading Barron's and AJC recommended the purchase of a BAC issue I had purchased because of government intervention. At that point I knew it was time to exit the position and began looking for the exit the following Monday.
She's just talking Goldman's book. Always has, always will.
Sell side at its best...
They need liquidity. If their selling, someone's got to buy!
Come-on, let's give her some credit. Her forecasts are going in the right direction:
1,300 by the end of the year.
March 2008 - 1550 by end 2008
August 10, 2007 - 1,600 by December
December 2007 - 1,675 in 2008
Give her time, she will be caught up soon.
Is she even worth the mega byte space on this website to comment?
George Soros has just proclaimed Abby's head to be the ultimate bubble.
I wonder who pulls the string on her back before she goes on TV?
based on this alone, I am calling a market top.
To infinity and beyond!!
Anyone catch Betty Liu and the gang wondering when the "dumb" money was going to enter the market? Admitted that the stock market has risen on thin volume as "smart" money has driven the rise off the March 09 lows. These "smart" money shills need someone to purchase their rather large sacks of manure to realize their paper gains.
It's going to be fun watching these shills shank one another.
Is this all they have left as ammo? The criminals Jabber Jawing the market as it implodes. Truly a sad comedy for those traitors/traders who think they can outsmart the HFT computers that know what will be said and when and thus are programmed accordingly to maximize profits. So this jabber jawing is the best they can do as Goldman Sachs faces worldwide criminal charges due to their actions with Greece an good knows what else? LOL!!!
Are you there yet?
Are you ready to finally pull out all your funds from banks and Wall Street?
Sell off all stocks/trades?
Perhaps even go on a labor strike with your co-workers and picket your State government?
Or are you just sitting there like a good sheeple?
"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale. " -- Thomas Jefferson May 1816
Actually no, we are not there yet!
This ancient relic can still speak. Can someone please tell her to walk around with a roll of toilet paper round her neck because she talks shit. And that too the liquid variety which dribbles.
There's the signal boys. SELL!
Where's Leo with his 'buy'?
The AJC Method
Step 1. Locate where S&P is currently trading.
Step 2. Multiply by any number between 1.10 and 1.25
Step 3. Call it a prediction
Dave Kostin is now the senior market strategist for GS, and he was also out last Friday calling for S&P 1,300 by mid-year with a 1,250 year end target. Abby keeps her job simply because she is a legacy partner. Even people who work for GS pretty much ignore her. Regardless, the firm has the habit of talking their book, and they are likely simply trying to draw investors in so as to trade ahead and profit.
I have no idea what she's talking about. The Depression is just getting started.
This isn't the first tiime I've heard this warning, and is one of the reasons I spend more time searcing for financial sites like ZH. What really keeps me (and I assume other new-comers) around is how scary accurate you guys have been... Plus I'm really learning a lot. Thx. :)
Byron Wien on todays financial times stated that it takes $6 to create a $1 dollar return on risk capital in the US as opposed to less then 2 to 1 in the post war years up to the 80s - I believe he stated that it is still a 2 to 1 ratio in Europe while a 1 to 1 ratio in China
I have to say that I find his European figures more then a bit optimistic but I have no doubt that the revenue obtained from risk capital in Europe is greater over a long time period
Any thoughts on this guys connections and calls over the years.
Of course Dork he is right. There was no "sheeple" 401k / IRA program trading before 1982. So any money people put into the markets they knew exactly what they were buying and why (in general). Now you have uneducated fund managers pumping in money every two weeks that the sheeple have dumped in "dutifully" towards their retirement.
Yes Europeans invest more of their income in low yielding bonds , bank accounts etc. so the valuations for equity and corporate debt are a bit more realistic.
But we still have a lot of commission farmers over here.
"Cohen, 57, said ..."
Cohen 57? Is that her model number?
(Seriously, why are they mentioning her age??)
She's targeted for the baby boomer crowd.
He says S&P 1300??
That she was the pubic face of GS for 20 years proves their genius. The prim and proper little librarian fronting for sharks was a brilliant move. She has the act down pat. She obviously knows it's an act. I mean could anyone really be so dumb as to issue the same call for 25 years, 'stocks are 15% undervalued'. I mean who in their right mind thinks stocks have a proper value?
Put her in the grifter hall of fame. Great long con Abbey.
Another sign that they are getting freakin' DESPERATE. Retail has and is still ignoring the "rally", and wants nothing to do with this stock market. Two crashes in eight years have taught a hard lesson.
Clearly, the big boyz need the bagholder (retail) to show up SOON, otherwise they will be forced to turn on each other.
YOU NAILED BAM_MAN. Comment of the Day !!
Too funny T! too funny.
ajc is a buzzard! and we all know "a buzzard is two-faced"
Did all of you that were calling names various analysts from respectable institutions that were calling 2009 SPX in 1100-1250 area around August and September?
No? I wouldn't expect so.
To quote Butthead, "Aaahh.....what?"
Distinctly feminine! LOL!!! CW says that it's not what you know, but who you blow....so how in hell is she still employed?
She's been so far off the mark forever that NBR doesnt even bother having her on the show anymore.
Lets review what she (he?) said in December 2007 -
-------------------
Abby Joseph Cohen: Economy to Rebound in 2008 Topics:Interest Rates | Inflation | Ben Bernanke | Employment | Consumers | Federal Reserve | Federal Budget (U.S.) | Economy (Global) | Economy (U.S.)By: Greg Levine | 04 Dec 2007 | 05:30 PM ET
Abby Joseph Cohen, chief investment strategist at Goldman Sachs, says the U.S. economy will rebound in mid-2008, but the next few months will be bumpy.
In an interview with CNBC, Cohen explained why she remains bullish, how the recovery will look -- and what she foresees for the financial sector.
She says the S&P 500 will hit 1,675 by the end of 2008, a gain of 14.5 percent over 1,463 at market close Tuesday.
Though Goldman Sachs had predicted that the S&P will be at 1,600 by 2007's end, she cautioned that that call came from a report issued in the spring -- before the wild market swings of the summer. "We try to think ahead, 12 months into the future -- so that 1,675 is the number to look at."
"Retail has, and still is ignoring this rally, and wants nothing to do with this stock market."
Amen! PBS re-aired Frontline's "The Warning"---The story of CFTC's Brooksley Born who warned of the derivatives crashing the financial system during the Clinton years. Sad to see her railroaded by the same scum who should stand trial for high treason---namely Greenspan, Rubin, L. Summers, Phil Gramm, Levitt et al.
They were hailing the mumbling fumbler Greenspan as "the wizard".
They have no shame.
Must have been the weekly visit to the Tarot card reader that gave her this brilliant insight!
Pass the crack pipe I may need it.
"Sarcastic" Tyler makes a come back.
My favorite of the Tylers... You ripped this broad to shreds like Don Rickles shutting up hecklers at a bald gynecologist's convention...
Classic:
"Punxsutawney Abbey must have not seen her shadow yet again, resulting in a call for 6 more decades of Dow at 36,000..."
Mo' Classic:
"The fact that blind monkey, with a penchant for dart (and/or feces) throwing have had a more successful track record than AJC is irrelevant..."
You Cramer-ized her with her own record... Don't you know Tyler... Idiots hate being measured with their own stick?
"You want to finish her off?"
She looks like my friend Joe Baxley the plumber from Macon,GA. Joe has predictions also - to whit - "don't flush tampons". My Joe is almost always correct, why talk about the other Joe?
Now is the time to go short!
Dow 6000 coming up
She was a key reverse indicator at Drexel Burnham Lambert.
The impending dollar rally that I warned about from mid 2009 onwards has only just started.
USD Index daily and weekly charts remain bullish.
Vice versa for the EURO and DOW/SP00.
http://www.zerohedge.com/forum/market-outlook-0
Any lemming who listens to what any being on wall street or in congress says, they deserve what they get.
What's up with Abby and O'Neil pumping via the front
door while Hatzius is in the basement projecting
GDP falling off a cliff for the rest of the year?
To me, it seems Hatzius is telling the truth, while
Abby and O'Neil have the responsibility for offloading
all the crap the squid bought at the bottom with their
TARP injection. Just an impression.
The smart money probably listens closely to what she had to say... and then does the exact opposite. If she really does believe that nonsense and not just working for the big news media who's motto should be "We really tell it like it ain't" then she needs to go live somewhere on a south pacific island with a tribe of cannibals. Hopefully, they can invite her over for dinner sometime.
"recession over"??!
depression over?
not to further reductionist ideas but....
costofwar.com
pay and pay and pay for the ongoing wars....
pay and pay(listen to this or that fool, )
pay and pay and pay-
until the Republic is broke.
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