Skip to comments.Goldman Stocks Strategist Fends Off ‘Barrage’ After Valuation Call
Posted on 01/22/2014 6:27:08 AM PST by Red in Blue PA
Looks like David Kostin, equity strategist with Goldman SachsGS -1.78%, got some pushback from clients after a recent note asserted U.S. stocks look pricey.
The strategist shot back in a note published late last week ahead of the holiday weekend.
We received a barrage of questions on the call for caution, he wrote. Most client responses attempted to justify personal expectations for continued multiple expansion in 2014.
(Excerpt) Read more at blogs.wsj.com ...
For the first time ever, I have invested in gold mining stocks. All of the market looks too pricey to me. I am still holding onto my names, most of which are defensive, but for new money, I am looking at out of favor stocks.
It has been quite awhile since we have had any meaningful correction.....and that is typically when corrections occur.
FWIW, today is the second day in a row that they ran it up overnight, making the NY open the pretty spikey high of the day. Nobody’s been buying ‘em up at the open.
“Margin call, gentlemen.”
The stock charts are not real. Whatever happened to fluctuation? I suspect all of that federal funny money has totally destroyed anything real in those numbers.
That's why I sold the three stocks I had that are small companies that didn't go up much in value because of the recession. When they went up a bit, I sold them for a small profit.
I realize that emotions and the stock market shouldn't mix. Before things got so finagled with the recession and its aftermath, I was making a few dollars every year playing low cap, very cheap stocks. Still do have a few that don't have all of the life sucked out of them.
One problem I have is getting decent research. It's become less available.
I don’t trust most of the “research” on Wall Street. Never invested in internet companies but will never forget the analyst (Blodgett??) who called Amazon.com a Strong Buy publicly yet called it a piece of trash in private emails.
That sort of thing happens every day.
There is another analyst Scott Hammann with KeyBanc who trashes Ruger every chance he gets, even when they have put of stellar earnings Q after Q. Even has a $40 price target on it, when it recently it $85. POS with an agenda. And because there are so few analysts covering Ruger, there is no counterbalance. I hate analysts.
The market is smoke and mirrors with imaginary Fed “money” created on computer screens. This nation is in a Depression. We are not manufacturing at anything close to what is required to produce real economic growth. You are correct, people never want to admit that their 401Ks or investments are built on thin air.
Keep your sell stops tight!
It really depends on whether you are a short-term trader, or a long-term investor looking for a stream of income that will gradually increase.
That's why I like news when I can get it. I've always figured if someone were really, really all-wise about the stock market, they'd be using that knowledge for themselves.