Birinyi Says Bull Market Intact, 1,450 S&P 500 Forecast ‘Shaky’
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Laszlo Birinyi, one of the first investors to recommend buying when the bull market began in 2009, said the Standard & Poor’s 500 Index will continue its ascent, though possibly not to the level he had predicted.
“The bull market is intact, and while our ‘target’ of 1,450 in mid-2012 is admittedly a bit shaky, our more important conclusion that a rational, disciplined portfolio can attain a 10 percent plus return in 2011 is not,” Birinyi, of Westport, Connecticut-based research firm Birinyi Associates Inc., wrote in a note today.