THREAD ---For informational purposes --Lucent Technologies Inc.
Dow Jones Newswires -- January 22, 1999
Birinyi Cites Buying Patterns For Rosy '99 Stk Mkt Outlook
NEW YORK (Dow Jones)--Far from using rallies to unload stocks, investors continue to look at
market dips as opportunities to pick up what they consider cheap investments, proof for investor
Laszlo Birinyi Jr. that U.S. blue-chip shares will keep going higher in 1999.
He targets 12,000 for the Dow Jones Industrial Average, 1,500 for the S&P 500 and 2,800 for the
Nasdaq index in 1999.
Birinyi, who runs Greenwhich investment firm Birinyi Associates Inc., said he focuses on blue-chip
stocks, the biggest 50 companies in the U.S., who continue to perform well.
"If you look at mutual fund managers that did well last year, they all had a common denominator,"
Biryini said, and that was owning benchmark stocks like Lucent Technologies Inc. (LU), Dell
Computer Corp. (DELL) and America Online Inc. (AOL).
Biryini said he likes shares of the Baby Bells, which "give you a combination of dividends, takeovers
and technology." Specifically, he mentioned U S West Inc. (USW) and smaller player Clear Channel
Communications Inc. (CCU).
He also recommended International Business Machines Corp. (IBM) despite what some considered
a disappointing fourth-quarter earnings report.
BEST WISHES
BILL
PS This gentleman is right behind ABBY JOSEPH COHEN in being very accurate |
