Abby Joseph Cohen
- Mark_J
- Mark_J
- Kirk
- Kirk
- Hugs
- Kirk
- burkmorz
- dStrate
- Kirk
- Kirk
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» Mark_J - Abby says buy
Where's the mint julip in the above pic?Well, I'd have to agree with her that valuations are more attractive now then in March. What was the Nasdaq back then, 5100-ish? QQQ over 120? Remember, back then sometime, Abby reduced her stock exposure about 5% or so. From what I recall. Any news on her new allocation? Adding the 5% "dry powder" back in?
-- posted by Mark_J
» Mark_J - Abby
I don't recall what her recommendation was back in the spring. I think she went from 65% to 60% equites. Something like that. I have no idea where the non-equity portion of her portfolio is. Maybe it's in an ironclad lockbox. Who knows? Does she have a recommended portfolio? If so, how does it compare to a "like-kind" index?-- posted by Mark_J
» Kirk - Re: Abby
In response to message posted by Mark_J:In MARCH, Abby went from a market overweighting in technology to about 10% underweighting. In her shift, she ALSO took 5% out of stocks all together. I wrote the details elsewhere if you look. I believe she was 45% in tech and lowered it to 25% in March. SHE was smart enough to ride tech to nearly the peak and then she seemed to sell about half of her tech stocks and underweight technology vs the S&P500 index.
From what I gather from seeing her on TV in an interview, two weeks ago she got her clients BACK to a market weighting in technology which she says was about 25% of the S&P500 (I think she was at 45% tech when she sold a bunch in March). Key is Abby stayed with Tech until the top, sold SOME to protect gains and adjust allocations here and there... and was pretty much dead on.
Also admirable about Abby is she kept the other parts of her portfolio fairly constant so there were little tax consequences... The ONLY big correction was in the NASDAQ and the financials and bonds have soared since Spring. Only taxes would be paid on the portion overweighted to tech that she cut back on. Of course I was doing a similar thing but didn't have the conviction of Abby to sell quite as much, but I DID take about 6% out of technology and split it between financials, bonds and completely out of the investment mix as income.
I remember it felt good in the Spring and summer that Abby was doing SIMILAR investment decisions to me and I had started to buy technology again this month and learned again that Abby was doing it also. Perhaps we have similar outlooks on the future? What I like about Abby is she doesn't do large adjustments, but she does do them according to valuation. This is how I try to do it also and we seem to buy similar tea it would seem.
-- posted by Kirk
» Kirk - Re: Spring time for Abby
In response to message posted by Kirk:I also think she added retail back then but I am not at all sure.
I tried to look for the exact info with the search engine, but now I have other stuff to do... Perhaps someone can find what she actually did back in the Spring and post it here?
Thanks
-- posted by Kirk
» Hugs - Re: Spring time for Abby
Don't know for sure what you're looking for, Kirk, but here's this that I popped up quick like:It probably pinpoints close to the time is was first mentioned here, but it's really not hard to find a post if you remember some of what was in it. Advanced search, limited to discussion, limited to a narrow time window for the post...
Piece of cake.
Hu
-- posted by Hugs
» Kirk - Abby's March 28, 2000 Allocation Change
In response to message posted by Hugs:Thanks Hugs!
Author: Rande
Date: March 28, 2000 7:57 AM
Subject: Finally back up.
Finally back up. Lots going on today:
Abby Watch:
NEW YORK (CBS.MW) -- The major averages lost ground, pressured by news that that the influential Abby Joseph Cohen, a well-known bull on Wall Street, decreased her stock allocation in a model portfolio by 5 percent to 65 percent. The Goldman Sachs strategist raised her cash position to 5 percent. She had no cash allocations over the past two years -- a very non-traditional approach, according to Art Hogan, chief market strategist at Jefferies & Co. Just last week, Cohen raised her year-end price target on the S&P 500 to 1,575 from 1,525. And year-end estimates for the Dow were raised to 12,600 from 12,300. Speaking of "just last week".....
-- posted by Kirk
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