A thorough analysis of historical bull runs points to a long-term bull market ahead, well-known money manager Laszlo Birinyi told CNBC Tuesday.
"We find that looking at the historical pattern of the markets can be a very useful exercise," Birinyi said. "We're fairly comfortable that the party is going to go on for a long time."
The money manager, who has previously pegged the S&P 500 at 2854 by 2013, also said he believes charting the history of rallies is more useful in market analysis than heavy focus on global economics or fundamentals.
"When you have an 80 percent move off the bottom as we did ... it always has resulted in a long-term market because quite frankly so many people miss so much of it and they have to try and catch up," Biryini said.