Models work when they are appropriate for the particular circumstance, but some of the best investment judgments over time have come when people recognized that models derived in other periods were broken or not directly relevant.
More Quotes from Abby Cohen:
Our valuation work for the SP 500 has long assumed moderation of profit growth to about 8 percent from 20 percent and a rise in core inflation.Abby Cohen
We don't think so, and continue to assume long-term earnings growth of 7 percent-to-8 percent in our valuation model.
Abby Cohen
It is too soon to know how the situation in Iraq will unfold in the coming months, and the extent to which the new government can indeed control the country. But, for the present, investors seem relieved that the direction is not toward an increased level of U.S. involvement.
Abby Cohen
For the first time in a decade, our model portfolio is no longer recommending an overweighed position in technology.
Abby Cohen
The global backdrop in 1999 will continue to offer impediments, but we expect Supertanker America to stay its course of moderate economic and profit growth. A supertanker is not necessarily fast or colorful, but it is steady and reliable and hard to push off course.
Abby Cohen
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