S&P 500 heading to 1,820: Laszlo Birinyi

VIDEO2:4702:47
S&P 500 heading to 1,820: Laszlo Birinyi

There's a 51 percent chance that the S&P 500 will hit 1,820 by the end of January 2014, legendary investor Laszlo Birinyi said Friday.

"I think the one thing we're really missing is animal spirits, and we still haven't gotten to that phase of the market," he said, alluding to excessive euphoria that accompanies a bubble.