2014 Predictions: Three Cheers for Obama
Byron Wien of Blackstone Group always offers up a long list of surprising 2014 predictions, and this year is no exception. Wien is more bullish than just about anyone else on the Street, with a 2014 prediction for the S&P 500 to generate a total return of 20%. He also sees China’s economy growing by only 6% this year, oil prices topping $110 a barrel, and 10-year Treasury notes hitting 4%.
But perhaps Wien’s most surprising prediction is in the realm of politics:
“The Affordable Care Act has a remarkable turnaround. The computer access problems are significantly diminished and younger people begin signing up. Obama’s approval rating rises and in the November elections the Democrats not only retain control of the Senate but even gain seats in the House.”
Hey, stranger things have happened.