Tuesday, January 22, 2008

Put all your money into stocks. Now!

That's what you'd do if you believe in the bull case: (NYTimes, 19 Jan - Saturday, after a week of big declines)
... Abby Joseph Cohen, the superbull at Goldman Sachs, maintained that the Dow would roar back to finish 2008 at a level 22 percent higher — 14,750 is the number — as the economy perks up later in the year.
Twenty-two percent annual return. That's freakin' amazing. But not unexpected from a perma-bull. They just can't ever see the downside.


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