Its articles like this that show how pathetic people are and how much greed lives on wall street, this guy is calling for a "surprise market rally"? Surprise? hasn't the last 6 straight years of this bull market been a surprise knowing how far the market collapsed in 2008-2009....The S$P is up over 200%, 200 fucking%%%%% 200%% thats a 2 with not one ZERO but 2 ZEROS!!!! What more of a surprise do you want out of this market, how many hundreds and thousands of percent do you want stocks to rise from there lows just 6 years ago? I guess being vice chairman of blackstone advisory partners you would only predict a growing economy and favorable earnings on top of a rally of 10% for 2015 Does he not realize that the last 6 straight years, over 70 straight months over 1500 trading days there hasn't been a meaningful correction, I think the only surprise is a market correction, now that would be a surprise, wouldn't it, but that surprise doesn't exist when central banks pump the markets up with worthless dollars, free bailouts and all the zero interest and negative interest rates you can get your hands on..
Byron Wien calls for ‘surprise’ market rally
Alex Rosenberg | @CNBCAlex
26 Mins AgoCNBC.com
Stocks have risen less than 2 percent since the start of the year, but Byron Wien is holding out hope.
The well-known vice chairman of Blackstone Advisory Partners, Wien predicted in the beginning of the year that the "the market rises for strong performance in 2015," fueled by "a growing economy" and "favorable earnings."
And even though the earnings picture has deteriorated, Wien is sticking by his bullish call.
"I'm still out there, bullish for the rest of the year," he said Thursday on CNBC's "Futures Now." "Earnings may be somewhat disappointing because of the strong dollar and oil, but I think there are going to be a number of companies that are going to produce good year-to-year earnings. And I think there are opportunities to make money in the market."
Still, Wien grants that earnings have sapped some of the bullish enthusiasm.
"At the beginning of the year, most people were looking at $125 earnings for the S&P 500. They're looking at $120 or lower now. So it means that the S&P is going to have a flat earnings performance for 2015, and that's not the stuff that bull markets are made of," he said.
"My view is that the people who are cautious make sense," he added. "But I think that too many people are moving to that side of the boat, and I think the market may surprise you favorably."
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Byron Wien
Still, investors may have become a bit more bullish of late. According to the most recent survey from the American Association of Individual Investors, short-term investor optimism has climbed to a year-to-date high, with 47 percent of investors now believing that stock prices will rise over the next six months, a bit above the historical average of 39 percent.
Either way, Wien now predicts that stocks will log a 10 percent gain over the course of the year, reducing expectations from the 15 percent he previously called for.
"I don't think this is going to be a big year, but the market is not expensive," he said. "I think the market can make 10 percent progress from the beginning of the year … with a little multiple expansion on flat earnings."
