Birinyi Says ‘Race Is Still On’ in U.S. Stocks After Drop
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Laszlo Birinyi, among the first to suggest buying stocks as the market reached its bear-market bottom in March 2009, said he’s still bullish on U.S. equities even after the biggest decline of the year this week.
“While we may have stumbled for a day or two, I think the race is still on,” Birinyi said on Bloomberg Television’s “In the Loop with Betty Liu” today. He reiterated his call from last week that the Standard & Poor’s 500 Index has the potential to reach a record high of 1,700 this year should economic growth surprise investors the same way falling bond rates did in 1995.