Cohen says add stocks
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March 7, 2001: 8:42 a.m. ET
Goldman Sachs strategist advises 70% of portfolio in stocks, up from 65%
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NEW YORK (CNNfn) - Goldman Sachs & Co.'s Abby Cohen recommended Wednesday that investors raise the portion of stocks in their portfolios.
The influential market strategist, long one of Wall Street's most ardent bulls, said stocks should be 70 percent of a model portfolio, up from 65 percent, and that cash should be reduced to zero from 5 percent. In March 2000, Cohen lowered the stocks portion of a model portfolio.
She said her bond allocation was unchanged, with most of the recommended exposure in intermediate-term issues, including corporate bonds.
"We believe that attractive equity valuation has been restored and forecast year-end 2001 price levels of 1,650 (for the Standard & Poor's 500) and 13,000" for the Dow Jones industrial average, she said in a research note.
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