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Byron Wien Warns “Oblivious Markets” Of 20% Correction

Posted By admin On February 7, 2013 @ 6:21 am In Money Watch | Comments Disabled

Zero Hedge [1]
Feb 7, 2013

Just as markets can stay irrational longer than traders can stay solvent, so Byron Wien warns all the market-watching self-confirming bulls thatĀ “markets slough off bad news until they don’t.”Blackstone’s top-man fears the “oblivious markets” are missing the point that nothing has been solved and that a “big battle between entitlement cuts and raising the debt ceiling” is coming. Shrugging off the anchor’s insistence that earnings have been ‘pretty good’, Wien states reality as expectations are rolling over and performance following. With people complacent and investors euphoric (ignoring European risk re-emergence and depression and Middle East tensions), Wien’s brief clip concludes with hisĀ expectation of a 200 point correction in the S&P 500 in H1 2013.

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URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/news/2013-02-06/byron-wien-warns-oblivious-markets-20-correction

[2] CNBC Guest Says Absent Plunge Protection Team Stepping In, Market Would Fall; Wien, Kernan Disgusted: http://www.prisonplanet.com/cnbc-guest-says-absent-plunge-protection-team-stepping-in-market-would-fall-wien-kernan-disgusted.html

[3] U.S. Stock Markets Disconnected from Reality: http://www.prisonplanet.com/u-s-stock-markets-disconnected-from-reality.html

[4] Sprott Berates Berkshire’s Buffoons And Says “All Markets Are Manipulated”: http://www.prisonplanet.com/sprott-berates-berkshires-buffoons-and-says-all-markets-are-manipulated.html

[5] Marc Faber Fears 1987 Redux As “Markets Will Punish Interventionists”: http://www.prisonplanet.com/marc-faber-fears-1987-redux-as-markets-will-punish-interventionists.html

[6] Everyone’s Scratching Their Heads And Trying To Figure Out What The Heck Is Happening To World Markets: http://www.prisonplanet.com/everyones-scratching-their-heads-and-trying-to-figure-out-what-the-heck-is-happening-to-world-markets.html

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