Laszlo Birinyi, an investor known for his unique approach to the stock market, passed away on August 21 at the age of 79. Birinyi believed in the psychology of the market and used this understanding to make accurate predictions. In the 1990s, he gained recognition as one of the top stock pickers, consistently outperforming the Dow Jones industrials. His success on the popular show “Wall Street Week” solidified his reputation as Wall Street’s best analyst. Even after the show ended, Birinyi continued to be sought after by news outlets for his financial expertise. However, some skeptics argued that his predictions were not always accurate, pointing to instances where he had missed the mark. Despite this criticism, Birinyi’s firm, Birinyi Associates, still manages a significant amount of wealth. His philosophy of “follow the money” guided his investment decisions, allowing him to identify investor interest and the flow of money in the market. Birinyi believed that long bull markets had distinct stages and that gloomy commentary from market watchers was actually a positive sign before the market reached its peak. Born in Hungary, Birinyi immigrated to the United States after World War II. He had a successful career in finance, working at Salomon Brothers before founding his own firm. Throughout his life, Birinyi remained passionate about the market and continued to analyze and review investments until his last days.
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