The high-pitched happy Hungarian is back - and this time he is serious. Laszlo Birinyi, the guru of gurus, who (back in January 2011 - as we noted here [2]) forecast the S&P 500 to be at 2854 by September 2013, now sees the S&P 500 at 1500 by year-end (which looks mysteriously like yet another of his famous ruler-applications). What is fascinating about this oh-so-valuable prediction is that it implies Birinyi believes 2013 is the year of all years - a 90% rally in the first 9 months according to the newsletter-peddler - or a 160% annualized return. Trade accordingly.
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Chart: Bloomberg