Miss Cohen of “Mr Squid!”
In what is likely to be the last real signal to get the hell out of dodge, headlines out that one of the chief cheer leader’s of the millennium equity bubble – one Ms Abbey Joseph Cohen – stating that equities have further to go, raised my eyebrows this morning…
“Value remains in the U.S. stock market even after the S&P surged 25 percent this year to a record” she slushed.
For those readers who weren’t around in the late 90’s/turn of the century, Ms Cohen was constantly wheeled out by the Squid to put incremental fuel under the market. We all know how that turned out…
MISS COHEN – I SUGGEST YOU READ THIS BLOG HERE – http://www.spreadbetmagazine.com/blog/titan-investment-partners-bold-call-3-its-as-good-as-it-gets.html and produced by a complete impartial party with no vested interest in rising equity markets (I wonder how the Squid’s prop books positioned?)
According to Ms Cohen – “Price-earnings ratios are lower now than the last time stocks were near these levels” – so that makes them cheap then when all around evidence is mounting that the Fed’s QE is doing nothing for the wider economy aside from keeping the near insolvent banks afloat and enriching the extreme minority at the top of the wealth pyramid, and that forward economic indicators are actually declining?
The icing on the cake is this chestnut – “Janet Yellen is one of the finest policy analysts in the U.S. and deserves to be confirmed as the next chairman of the Federal Reserve” said Cohen. She forecasts the S&P 500 will reach 1,900 by the end of 2014, a 6.6 percent gain from today’s close.
“Companies right now are increasingly enthusiastic about the dynamism in the economy,” said Cohen. “There’s value in the market right now. The U.S. economy will likely grow faster next year.”
SBM GOES HEAD TO HEAD WITH THE SQUID AGAIN (SO FAR 4 – 0 TO US) THAT THE S&P WILL NOT BE HIGHER THAN THE CURRENT LEVEL IN 12 MONTHS TIME LET ALONE 1 YEAR. WE ARE ALSO WORKING ON A STRATEGY TO DO EXACTLY THE OPPOSITE OF GOLDMAN SACHS HEADLINE RECOMMENDATION, IN PARTICULAR ONE MR THOMAS “STOP-LOSS” STOLPER!
Follow their advice at your peril..