For all the talk of how incredibly sharp Birinyi is, he is very late to the party, and anyone rushing in to join him on his call certainly assumes much more risk than anyone daring to do so much earlier than his call ever remotely took. The S&P 500 added 14 percent since Westport, Connecticut- based Birinyi Associates Inc., which manages $350 million, said on May 20 that a bull market had begun, according to data compiled by Bloomberg. This is after the S&P has rallied 52% since the March lows. Birinyi only missed the March lows by 38%. /sarcasm Better hope for incredible continuing gains, on weakening fundamentals, after a record breaking 5 month bounce, in order to truly capitalize if you're following Birinyi...and better pray you don't get pulled into the riptide if we see a precipitous pullback here...
By Doug Kass "I believe the U.S. stock market has peaked for the year." kass was right calling a generational bottom in march. now he says its over. he is worth listening too.