Abby Joseph Cohen is...Bullish

Abby Joseph Cohen, strategist at Goldman Sachs, says the fair value for the S&P 500 is around 1250-1300.

“The recession is over and has been over for several months. Not every sector recovers at the same pace.” She says in a recent Bloomberg interview.

Of course, Bloomberg goes on to say:

Cohen, a senior investment strategist, was replaced by David Kostin as Goldman Sachs’s chief forecaster for the U.S. stock market in March 2008. She had been the second most-bullish Wall Street strategist at the start of that year, when the S&P 500 tumbled 38 percent, its worst annual loss in seven decades.

The 1990s made perma-bulls look like geniuses. The 2000s took them out to pasture.

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