Saturday, 30 August 2014
Last updated 1 day ago
Jan 5 2010 | 11:14am ET
The new year of course means another edition of Byron Wien’s 10 surprises, now in its 25th year.
The former Pequot Capital Group strategist, who now works as vice chairman of Blackstone Advisory Services, predicts a strong year for the U.S. economy in 2010, with gross domestic product growth topping 5% and unemployment slipping below 9%.
Wien is also far more bullish on operating earnings than most of his peers, predicting that Standard & Poor’s 500 Index operating earnings will exceed $80 per share. Analysts polled by Thompson Reuters expect less than $60 per share.
“In a roller-coaster year, the S&P500 rallies to 1,300 in the first half and then runs out of steam and declines to 1,000, ending where it started at 1,115.10,” the prognosticator said of this year. “Even though the economy is strong and earnings exceed expectations, rising interest rates and full valuations present a problem.”
Wien also suggests that the dollar’s long-running decline will end in 2010, calling the U.S. currency undervalued. By contrast, both the yen and the euro are expected to lose ground against the greenback.
Blackstone’s sage also believes that interest rate hikes will return this year, beginning in the second quarter. Wien predicts that the federal funds rate will be at 2% by the end of the year.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...