Birinyi Says Six-Year Bull Won’t End Until Skeptics Muzzled

The U.S. stock rally that turns six years old today isn’t about to die just because people say it is. In fact, their pessimism is driving it higher.

So says Laszlo Birinyi, the 71-year-old investor who has predicted gains at every turn as the Standard & Poor’s 500 Index tripled after bottoming at 676.53 on March 9, 2009. Warnings that stocks are in a bubble and that breadth is narrowing are signs that the thing that really kills bull markets, euphoria, has yet to surface, he says.