Laszlo Birinyi has made a fortune predicting the ebbs and flows of the stock markets around the world. And the brilliant investor just let the world know he thinks the S&P 500 is going up even higher. (The Birinyi Associates site quotes the late Louis Rukeyser calling Birinyi “Simply the world’s number one stock picker.”) Birinyi told his clients that he is investing in SPDR S&P 500 ETF $255 calls, according to Business Insider.
Birinyi earlier bet that the S&P 500 would exceed 2,500 at the end of September and it’s currently at 2,510. Birinyi likes to keep proving Rukeyser, who gave him a seat on the seminal Wall Street Week program, correct about his market prowess. For the December calls to pay off the S&P would reach nearly 2,600.
*“Trading is a game,” asserts veteran market analyst and industry legend Laszlo Birinyi in The Master Trader: Birinyi’s Secrets to Understanding the Market. And “like all games, there are winners and losers. Hopefully, you will emerge a winner by understanding the reality of today’s markets and being aware of the land mines and pitfalls.”