Abby Joseph Cohen - Still A Headliner

Abby Joseph Cohen, senior investment strategist with Goldman Sachs, was on CNBC this morning and the story has been on the list of top headlines over at CNBC for the entire day:

"Worst May Be Over For Stocks And US Economy, Cohen Says"

The obvious question is WHY is this a big story? Cohen says in the interview that Goldman (not her) is calling for S&P 900 by year end, less than 5% away from today's closing price. That is all fine and dandy, the real question is what is all the hoopla over Cohen's calls?!

Cohen gained prominence in the 90's bull market but turned into a permabull even as the market began to fall apart. During the 90's, Mario Bartiromo called Cohen "the queen of the bull market." Taking a look at some of Cohen's more recent CNBC appearances:

• July 14, 2008 - Fair value of the S&P is 1400 based on a 6 - 12 month view. (The S&P never got above 1315 before essentially being cut in half over the next 8 months)
• May 21, 2008 - "...but as we move out in the next few months, fair value is probably closer to 1500 on the S&P." (The S&P STILL has not seen 1500)
• March 17, 2008 - Cohen was replaced in her role of making S&P forecasts, her prediction for year end S&P had been the highest among 14 different forecasts
• December 4, 2007 - Economy will rebound in mid-2008, S&P will hit 1675 by the end of 2008 (The economy STILL has not rebounded and the S&P STILL has not seen 1675)

Her fifteen minutes of fame ended like ten frickin years ago, let it go... move on.