Byron Wien, Vice Chairman at Blackstone Advisory Partners, one of the world’s largest investment firms, has 10 predictions that may surprise markets in 2013.
Wien defines a “surprise” as an event which the average investor would only assign a one out of three chance of taking place but which he believes is “probable”, having a better than 50% likelihood of happening.
The legendary investor has some good news for China watchers, gold bugs, commodity traders, and mining and drilling equipment manufacturers but oil players – especially Canada’s oil sands – would probably struggle in a market of US crude at $70 a barrel.
Here are the highlights:
Wien has posted a surprise list every year since 1986, when he was chief investment strategist for Morgan Stanley in the US.
Read more at Blackstone.