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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: dennis michael patterson who wrote (19177)9/18/2001 2:59:55 PM
From: stockman_scott  Read Replies (3) of 52237
 
Goldman Sachs strategist Abby Joseph Cohen, one of the most accurate oracles of the 1990s stock market boom, reduced her expectations on the S&P 500 to between 1,250 and 1,400 from 1,550, a 15% to 25% gain for the year. In a recent research note, the ever-bullish Cohen said, "The U.S. economy faces temporary stresses, but is fundamentally sound. The banking system has functioned well through the crisis. We expect economic and profit growth will resume in 2002. Equities are attractively priced, even with adjustments following the tragic events of Sept. 11. Prior bear market bottoms have typically occurred at levels of 15% to 25% undervaluation. The S&P 500 was 25% undervalued when it closed on Sept. 10, based on subsequently revised earnings estimates for 2001 and 2002."
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