Birinyi said he is still bullish on the equity markets and said the Dow will reach 11,000 by the end of the year.
On emerging markets, Birinyi said they are not worth the risk for individual investors.
“Rules and regulations are different and the markets are not necessarily as transparent as ours are,” he said.
“And for individual investors who are not on top of this day in and day out, I think it’s probably not the best place to go.”
Birinyi noted that commodities and flow of funds are the two main drivers of emerging markets.
“There’s a fairly strong correlation between markets and so if you want to go to emerging markets, you’ve got to assume that the stock markets are going to go higher—which I think it is," he said. "
But I’m concerned about the commodities—gold, silver and oil going higher and so forth—so I would be a little hesitant to go in there.”
- Watch Pt. 2 of Birinyi Interview
- Watch Pt. 3 of Birinyi Interview
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No immediate information was available for Birinyi or his firm.