Blackstone executive predicts 10 surprises for 2014
For the 29th consecutive year, Byron Wien, vice chairman of Blackstone Advisory Partners, issued his list of surprises for the new year regarding economic, financial and political matters. The most prophetic of Wien’s prognostications is one of the four “also-rans” that did not quite make his list of surprises. To wit: Chris Christie and the moderates fade in popularity. No, Wien did not foresee the so-called Bridgegate scandal that is sinking the New Jersey governor’s political fortunes, but he deserves credit for even thinking the luster might fade from the heretofore bulletproof Christie.
Here is what did make Wien’s list:
1. We experience a Dickensian best of times/worst of times market. The worst: geopolitical problems. The best: The S&P 500 Index approaches a 20 percent return by year-end.