To: goldsnow who wrote (6693 ) 8/17/1998 12:49:00 PM From: Robert Douglas Read Replies (2) | Respond to
**OT** Abby Joseph Cohen comments.Goldman Sachs & Co. investment strategist Abby Joseph Cohen has said for the past two weeks that investors are overreacting, and that profits will keep growing enough to support higher stock prices. bea.doc.gov , are at a 30 year high and have risen each of the last six years. Does that sound like a trend that is likely to continue given the present environment? And what if, heaven forbid, profits actually declined? <g> Can you imagine the shock to investors who seem to think of double digit profit gains as some sort of constitutional right? Profit margins can't go up forever, and IMO are already at unsustainable highs. I think it is reckless for bright, well regarded market strategists to assume that profit margin growth can continue at the rates of the recent past.
