The Blackstone strategist, who’s generally been bullish the last couple of years, says stocks aren’t going to have a bear market in 2018. He believes the indexes will again test their recent lows, and that will create a “terrific buying opportunity.”
“I think the year’s going to be good. I agree … that we’re going to have 3 percent growth pretty much for the year, earnings are going to be good, interest rates are going up and not too much, inflation is going to stay tame,” he said.
The vice chairman of Blackstone’s private wealth solutions group issued his annual note in January with his 10 predicted surprises for 2018. Among them, Wien saw a stock correction this year and Republicans losing both the House and Senate in November midterm elections in a referendum on President Donald Trump.