Funny how someone can be right for YEARS and wrong for days, and be everyones punching bag.
I find it rather disgusting, myself.
Cohen is no fool, and with rates at 5%, and pe's at around 20, she has history on her side.
Still, I think she is high. imo, fair value on the dow is about 8400, 400e x 21pe= 8400. A drop to 7900, a 15% correction, is likely, and not a big overreaction. 6400 would be a pe of 16, and a gross overreaction in this interest rate environment. 6400 would get the attention of the fed, to be sure.
I will be buying again below 7900. |
