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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: stock bull who wrote (763)	9/6/1998 2:46:00 PM
From: MrGreenJeans	Read Replies (1) \| Respond to of 15132

AJC Sunday September 6, 12:46 pm Eastern Time Goldman's Cohen sees stocks rising WASHINGTON, Sept 6 (Reuters) - Goldman Sachs & Co. stock strategist Abby Joseph Cohen, a longtime bull, on Sunday reiterated that she expects stock prices to rise. ''We think from these levels the stock market direction is up over the next few months,'' she said on the CBS television program ''Face the Nation.'' ''The only way that the current level of the stock market makes sense is if we indeed are going into a mild recession in the United States and we don't see that this year or next,'' she said. Despite tumbling stock prices, Cohen has previously held to her earlier year-end price targets that would be put the Dow Jones industrial average at 9,300. The Dow closed on Friday at 7,640, 18.4 percent below the all-time high of 9,368 set July 17. The benchmark index fell 411 points for the week after losing 482 points the previous week. Cohen said that although market interest rates have already been falling, any decision by the Federal Reserve to reduce interest rates would be positive. Fed Chairman Alan Greenspan on Friday hinted that the Fed might cut interest rates. ''I think if the Fed moved further (to lower official rates) ... it would be viewed in a favorable way,'' Cohen said. She said investors have been too preoccupied by Russia's economic woes, since Russia accounts for less than 1 percent of U.S. trade. Selling of stocks by institutions that had invested in Russia using borrowed funds has added to recent pressure on equities, Cohen said.

To: stock bull who wrote (763)	9/6/1998 9:46:00 PM
From: Justa Werkenstiff	Read Replies (3) \| Respond to of 15132

Stock Bull: "Justa, I want to thank you for your excellent summaries of BB's show. Well done." Your welcome. I will do them when I can. Fortunately, I do have a life other than following Brinker so I can't say with what frequency I will do them. Lars and I have been kicking around the idea of asking for volunteers to do summaries on assigned dates. Any feedback on this idea would be welcome. Now if I were Brinker, I could do the summaries in a tenth of the time <G>. I could even do them while doing the broadcast <G>. Re: "It seems to me that a rate reduction would be a "drop in the ocean." On the international front, this could be the case in real terms but it could be a psychological positive. On a domestic front, the market would like a reduction in interest rates at this point and would respond favorably in my view. Re: "He did not call this a "buying opportunity" or a "gift horse." He did keep saying the market was attractive for purchase and thought it was the best time this year to be putting new money to work.>> Isn't this just a play on words? Its all seems to say, invest now." Good point. Brinker said the other week that regardless of whether it is a "buying opportunity" or a "gift horse", when the man says buy that is what he means. But there has been little passion in his tone the past few weeks when he turns to this issue. While he may tell he thinks it is the best time this year to be buying equities, he lacks the passion I have come to expect from Brinker especially when compared to January 10 and 11th. I am not certain of whether this change in tone means anything substantive or not at this point an I just note it as a fact for consideration.