Unlike the economists who are predicting continued economic weakness, Lazlo Birinyi told CNBC Wednesday he is not concerned and neither is the stock market.
"You'd be surprised how many good things are happening in the economy," said the president of Biriniyi Associates and long-time market bull.
"What I worry about is what the market worries about," he said. "Look at the breadth, look at the volume we saw the last couple of weeks. The market doesn’t seem terribly concerned."
"I’ve always argued the negative case is always more articulate, it’s always more intelligent, it’s always more compelling because it looks at the now. The market looks ahead," he added. "I could come up with all sorts of potential disasters but looking at what’s going on in the market, the market doesn’t seem to be saying anything of this will happen."
Although the bull market is going to continue into the second half of the year, Birinyi said, investors should avoid diving into broad sectors and carefully pick individual stocks.