Perma-Bull Abby Joseph Cohen: 'Buy Stocks, Sell Bonds'
Beware bonds. Embrace equities.
Goldman Sachs' Abby Joseph Cohen with Bloomberg's Tom Keene.
I swear on Bernanke's Keynesian bible that I wrote the headline before watching the interview. That's what 25 years of watching Abby can do to you. First thing she does is discuss her reputation as a perma-bull. Straight out of the gate. Then she mentions her hate mail. Nice touch, Abby. Now, you'll get more hate mail.
She's probably right here though. Will be tough to slow down equities for the remainder of 2013, but a monkey could make that call with Bernanke on the gas pedal. She's been wrong in the past though. Very wrong. Very very wrong. Try 2007, 2008 and 2009 falling flat on her face with bullish enthusiasm not seen since the days of Rukeyser.
Check that. Bullish enthusiam not seen since the halcyon days of March 2000 with Bartiromo barking breathlessly from the floor of the NYSE that Mary Meeker had just put a $1,000 price target on Ebay, when shares were trading at $65, or that Henry Blodgett had just called Infospace the most important stock for the next 50 years.
Yeah, that shit really happened.
This is actually a very good interview.
PHOTO OF THE DAY - Bernanke's Bible
Apr 11, 2013 at 3:39 AM
Reader Comments (1)
She is dilusional, but with purpose to scheme people out of money. Yeah, dump it all in stocks that are reaching 52 weeks high!!! We know that it's all good from now!!! What is important is that GS can exit with all time high profits! I say stock market will go down 2014. Economy is improving? Is anybody believing this?
The biggest deception in the Wall street is telling people to hold stocks forever. buy/sell, just like GS does every day. If anything I learned from last recession is to trade even more frequently. Take your profit and don't look back!