Byron Wien Somewhat Bullish With Many Caveats

Blackstone’s Vice Chairman of Advisory Partners Byron Wien is aware of numerous serious long term problems facing the economy, but regardless he remains a modest stock market bull and is optimistic 2015 will end on a positive note.

Wien: Better times are ahead

In an October 3 email titled “Better Times are Ahead,” Wien noted the headwinds: massive sovereign debt obligations, margins peaking, increasing pressure on blue and while collar middle class workers caused by technology and globalization, decaying infrastructure, rising social welfare costs, geopolitical conflicts, Middle East uncertainty and a dysfunctional government in Washington. It is a long list, all...