Veteran investor Laszlo Birinyi has faith in RIMM
on 30 Nov 2011 09:39 am
While the name may not sound familiar to anyone not interested in the stock markets, veteran investor Laszlo Birinyi of Birinyi Associates is calling for a turn around of RIM stock in 2012. That alone doesn't say much but when you learn more about Laszlo and consider that in 1997 he favored a then beat down, looking to be rescued Apple to be a top stock pick for 1998 those who listened to him and invested in AAPL are still thanking him for the advice today -- you tend to put a little bit more weight behind what the man is saying.
“It’s been beaten down, it’s a brand, it’s got its fans, it’s got its products. In 1997, I was in the Year in Wall Street show, and Louis Rukeyser asked me what were my picks for 1998. I said my first pick is a $7 stock — called Apple Computer (AAPL).”
Indeed. Around here we know all about its products, brand and fans -- none of which are disappearing as fast as the stock market numbers and naysayers would have you believe. So, is Laszlo Birinyi on the right track here and seeing the underdog while everyone else is busy beating down on them or is he just hoping to get lucky with this one? RIMM did close at 5.4% up after having floated as high as 8.4% yesterday after the Mobile Fusion announcement.