Veteran investor Laszlo Birinyi of Birinyi Associates this morning went on CNBC for the annual ritual of offering up his favorite stock picks for the year ahead.
The one he discussed first among his five names for 2012 was Research in Motion (RIMM), which he believes could be in better shape in a year from now.
He even likened the stock to a famous turn-around story he endorsed over a decade ago.
“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).”
“I think it’s a long shot, these are not widows and orphan stocks. But we want to pick some stocks that we think have potential to do well.”
Birinyi also named BlackRock (BLK), People’s United Financial (PBCT), General Motors (GM), and�Hermes International (RMS).
Professional investors follow many different methods to hunt down stocks to Buy, from computerized screening programs to gumshoe field work. If a tech stock paid a dividend, investors would take it as a sign that the company had matured and was no longer a growth stock with meaningful opportunities for appreciation.
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