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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Alan Norton who wrote (795)9/7/1998 7:41:00 AM
From: Justa Werkenstiff  Read Replies (1) of 15132
 
Alan: re: "Abby appears to be in a catch 22 situation, but I don't think that it has anything to do
with the Goldman Sachs IPO scheduled for later this year.

If Abby issues a statement of caution or an outright sell signal, she may believe that she
could precipitate a market event that would hurt many of the clients that she via Golman
Sachs represents.

If she issues a statement of optimism or an outright buy signal, she risks watching the
market fall along with possible further erosion of her clients portfolios. Given the
volatility in the market and the domino like effect of falling foreign currencies, a cautious
approach is understandable.

That leaves one option, stay the course. Eventually, the market will come back.

I may be wrong in this analysis, and I will admit that I very well could be since this is
nothing more than mere speculation on my part. Still, I have to wonder if she feels that
she has a responsibility to allay investor fears by publicly stating that she is confident in
our economy. I am guessing that she is feeling a tremendous amount of pressure to 'do
the right thing' - whatever that is. I hope that she is paid well for what she does. For the
record, I respect Abby, as I do Bob."

Nice post. I think you are right in that Abbey Cohen may feel a tremendous amount of pressure from various sources. But in the end, she is going to make the call she believes is right and is going to advise her clients accordingly. And then she is going to tell the rest of us schmucks. I do not doubt her integrity. My goodness, all I have to know is that she still takes the bus to work from Queens or Brooklyn to her Manhattan office. All of these people who are developing these incredible theories for the motivation behind her analysis should look at some articles that examine Abbey Cohen, the person. In that context, they should then revisit their allegations because I suspect they might come to an entirely different conclusion.
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