Wednesday, January 5, 2011

"Birinyi Says S&P 500 Index May Surge to 2,854 by 2013"

Come on. Are you kidding me?

9 comments:

CP said...

From David:

"I recall all too well that 2003-07 bear market rally — yes, that is what it was. It was no 1949-1966 or 1982-2000 secular bull run. It was a classic bear market rally, and did last five years. I was forever skeptical because what drove that bear market rally was phony wealth generated by a non-productive asset called housing alongside wide spread financial engineering, which triggered a wave of artificial paper profits. I knew it would end in tears … sadly, I didn’t know exactly when. I was constantly defensive in my investment recommendations at the time and there was a huge price to be paid for being bearish when there is a bull on your business card, trust me on that one."

Eric said...

At this point, I wouldn't bet against it.

CP said...

Are you serious? You wouldn't bet against the S&P 500 having back to back 40% years?

What kind of odds do you want on that?

Should you be buying SPY 250 calls?

Eric said...

I guess I didn't mean it literally. I meant it more generally -- i.e. "at this point" I would not bet, certainly not a big bet, against the market continuing to rise.

CP said...

I'm starting a blog called
"The Only Living Bear in New York"

Eric said...

I'm not bearish or bullish. Or I try not to be. I just want to trade profitably. Or invest profitably. Depending. I'm trying to learn to take what the market is giving. Which I admit can be difficult psychologically. Because actually I am inclined to be cynical and skeptical -- aka bearish.

Stock screen machine results.

Invest the $50 it takes to become a member at that site. It might put a few extra bucks in your pocket.

Mertos said...

Given your track record on housing, I'm betting on CP and Credit Bubble Stocks!

Taylor Conant said...

With inflation, anything is possible. Anything.


...at least, that's what they want us to believe.

whydibuy said...

Its clear math is not most peoples strong suit.

2800 by 2013?? Easy. Its not that much.

With the market starting the century at 10k, I believe a 7% annual compounded return will take the dow to about 2 million at the end of the century. And now we have only 90 years left in that century, its time for the market to hoff it.

Long and strong.