U.S. stocks have too much momentum to make betting against the Standard & Poor’s 500 Index a winning strategy and the gauge will probably reach 1,900 next quarter, according to money manager Laszlo Birinyi.
Five companies highlighted by fund manager Laszlo Birinyi as poised to gain in 2012 have returned more than four times as much as the Standard & Poor’s 500 Index.
Lately, the higher the Standard & Poor’s 500 Index goes, the less investors care.
The biggest rally in U.S. stocks since the 1990s technology bubble is poised to slow, with the Standard & Poor’s 500 Index adding 2.5 percent by the end of the year, Birinyi Associates Inc. said.
Weakening economic growth will cut returns for the Standard & Poor’s 500 Index this year while failing to end the bull market that started 17 months ago, according to Birinyi Associates Inc.
Corporate buybacks may be headed for their fourth-largest year, recovering a slump in 2009 following the worst recession since the 1930s, according to Birinyi Associates Inc.
U.S. stock investors, battered by losses in May for two straight years, have never been so sure that history will repeat itself, a sign to Birinyi Associates Inc. that it’s time to buy.
"We are not suggesting a correction or a decline, but instead that there will be a period of treading water."
- Laszlo Birinyi on Aug 07, 2013
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