Birinyi Associates is a money management and research firm. Our analysis and research of the markets complement our portfolio management efforts. We are unique in that we do not analyze the economy, have little interest in corporate developments and fundamentals, and have little use for traditional, technical, quantitative or other market indicators. Our approach is to understand the psychology and history of the market, and most importantly the actions of investors. Much of our effort involves money flows, or what has traditionally been called ticker tape analysis. We follow the ideology of Charles Dow in our methods. As he stated years ago, start with the market's input:
"The market reflects all that the jobber knows about the condition of the textile trade; all that the banker knows about the money market; all that the best-informed president knows of his own business, together with his knowledge of all other businesses; it sees the general condition of transportation in a way that the president of no single railroad can ever see; it is better informed on crops than the farmer or even the Department of Agriculture. In fact, the market reduces to a bloodless verdict all knowledge bearing on finance, both domestic and foreign.
The price movements, therefore, represent everything everybody knows, hopes, believes and anticipates. Hence, there is no need to supplement the price movements, as some statisticians do, with elaborate compilations of commodity price index numbers, bank clearings, fluctuations in exchange or anything else. The price movements themselves reflect all these things, and therefore an understanding of the price movements of the market."
The firm has three main areas of focus: US equity research, Global equity research and Money Management.
US Equity Research: Laszlo Birinyi began analyzing and writing about US equity markets with Salomon Brothers in 1976. He worked there until 1989 when he left to establish his own firm, Birinyi Associates. The firm remains at the cutting edge of market analysis through its equity research products.
Global Equity Research: Birinyi Associates monitors global equity markets and provides real-time research to global investors. Our coverage includes over 4000 stocks in more than 40 markets worldwide.
Money Management: Birinyi Associates has effectively utilized its research expertise in a money management practice and has been managing investment accounts for high net-worth individuals since 1993.
Laszlo Birinyi is the founder and president of Birinyi Associates, Inc. His investment career began as a trader which culminated in the development of the trading calendar and eventually one of the premier books on stock market trading, The Equity Desk. In 1976 Mr. Birinyi joined Salomon Brothers where he focused on equity research and market analysis. While at Salomon Brothers, he was the head of Equity Market Analysis and developed the firm’s weekly commentary, Stock Week, as well as a variety of studies on market topics including volatility, flow of funds, market structure, and perhaps his best-known tool, Money Flows, which received widespread recognition. In addition, he was the architect of the Salomon-Russell International Index.
In 1989, Mr. Birinyi left Salomon Brothers to found Birinyi Associates. While at Birinyi Associates, Mr. Birinyi served as Global Trading Strategist for Deutsche Bank Securities from 1998-2002. His views and opinions are frequently featured in the Wall Street Journal, Barron’s, and BusinessWeek. He is a former Forbes columnist, a panelist for Louis Rukeyser’s Wall $treet Week, and a frequent guest on CNBC and Bloomberg TV. In 1999 Mr. Birinyi was inducted into the Wall $treet Week Hall of Fame, and in 2004 he was named one of Smart Money’s “Power 30” market movers. Mr. Birinyi graduated from the University of North Carolina at Chapel Hill and received an MBA from the New York University Graduate School of Business.