Byron Wien on Potential Upsets to Economy

In a recent article for Barron’s, Blackstone Advisory Partners vice chairman Byron Wien shares his insights regarding factors that could potentially upset the economy. Giving an overview of the global economic and political climate, Wien highlights the general rise in populism and shares his view on the Trump presidency, Brexit vote, EU, and the economic factors affecting several European countries including France, Germany, Spain and Italy. Regarding the financial markets, Wien writes that “abundance of… Read More

Byron Wien Says Bull Market Has Staying Power

 In a recent article for Barron’s, veteran investment strategist Byron Wien argues that the current business cycle, although aging, can continue for several more years because the “usual factors that warn of a bear market or recession are not evident.” An inverted yield curve, investor euphoria and high yield spreads between lower-quality bonds and Treasuries are three such factors. Wien also notes that the Leading Indicator Index is an “important warning signal,” but that it… Read More

Byron Wien’s Market Insights from Annual Lunch Series

Blackstone strategist Byron Wien shared some takeaways from the annual summer luncheons series he offers to “tap the collective wisdom of financial experts,” according to a recent article in Barron’s. Wien offers a synopsis of the many topics covered, including the following: While market valuations are stretched, current interest rates “can support a higher multiple, perhaps as much as 30 times, but few observers want to stick their necks out that far.” And, although the… Read More

Active Investing Showing Signs of Life

Active managers have been struggling and stock hedge funds have seen a nearly eight-year performance slump, but a shift could be in the offing according to an article in last Friday’s Wall Street Journal. The article offers data from Bank of America Merrill Lynch showing that 58% of active stock managers beat their benchmarks in the third quarter and explains, “stock pickers say it is only a matter of time before they again ride high.… Read More

Byron Wien’s Outlook on the Markets, the Economy, the Election and More

With so many forces at work in the markets and the global economy, there is a lot of uncertainty simmering on many levels. In a Barron’s article from earlier this month, Blackstone strategist Byron Wien offers some insight on the causes and potential outcomes: Corporate operating margins have been compressed due to limited volume growth and rising wages. Wien expects this to continue into next year. He doesn’t see a severe sell-off or bear market… Read More

Wien: Good Growth, Nice Returns In 2014

Blackstone’s Byron Wien thinks stocks will hit a rough patch early in 2014, but after that he sees them taking off. Wien tells CNBC that, with sentiment levels very high, he thinks a 10% correction is likely sometime soon as investors deal with the uncertainty of such issues as the Affordable Care Act. But later in the year he sees the market taking off, with stocks ending 2014 20% in the black. He also says… Read More

Wien On Why Stocks Can Keep Moving Higher in 2014

Top strategist Byron Wien, who has a good long-term track record but was bearish in what was a great 2013 for stocks, is sounding bullish. Wien says the Federal Reserve’s loose money, low interest rate policies were big driver for stocks in 2013. Still, Wien tells CNBC that he doesn’t think the big year has made stocks overvalued. “If the economy keeps on growing at a 2 percent or better rate, if earnings do improve, maybe even… Read More

Wien: Be Cautious

Blackstone’s Byron Wien has been pretty bullish on stocks over the past couple years. But now he’s warning investors to be cautious. In commentary available on Barrons.com , Wien says “I know there is a feeling among policymakers at the Fed that the current high degree of monetary accommodation is excessive and should be restrained when the economy has regained its natural momentum. I do not believe we have come anywhere near that point yet.… Read More