Abby Joseph Cohen Says Stock Valuations Are Looking ‘Supported’
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The $4 trillion wipeout in U.S. equities since late September has taken stock valuations that once were stretched back down to levels with a stronger justification in earnings, Abby Joseph Cohen, a senior investment strategist at Goldman Sachs Group Inc., said in an interview on Bloomberg TV.
“I’m not making any recommendations about what to do today, tomorrow, this month, but it looks like the valuation that was stretched when the S&P got to 2,950 has come back down to levels that are supported by the fundamentals,” she said.