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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who wrote (239372)5/7/2003 2:50:38 PM
From: mishedlo  Read Replies (2) of 436258
 
Abby Conehead says JBC in risky areas

=DJ Goldman's Cohen Sees S&P 500 Up 25% Over The Next Year

By Karen Talley Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--It's time to put more faith in riskier areas of the stock market, says Goldman Sachs chief investment strategist Abby Joseph Cohen, who sees the Standard & Poor's 500 Index rising roughly 25% to 1150 over the next 12 months.

"We expect stock returns to exceed those from bonds over the next 12 months," reversing a three-year pattern, Cohen said in a note to clients, adding that her model portfolio emphasizes stocks with economic sensitivity and "high beta," or a propensity to be volatile.

The S&P 500 recently traded down 3.60, or 0.39%, to 930.79. The index is up about 6.2% this year.

Cohen has raised her holdings in industrial stocks and reduced holdings in defensive stocks such as consumer staples and healthcare. She also carries an overweighing in technology, compared with the weight it carries in the S&P 500.

Cohen's recommendation is based on her assumptions that investors' risk aversion to stocks, where they demand more of a premium before buying, has diminished "and will not soon be reversed."

Also, the economy and profits are likely to grow during the next several quarters," said Cohen, whose comments follow Tuesday's policy statement by the Federal Reserve that the economy's leaning is towards weakness.
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