Byron Wien, vice chairman of Blackstone Advisory Services, reiterated his bullish call for 1,500 on the S&P. However, the noted forecaster is cautious about the stock market in the near term.
"It's hard for me to assess how much of the big move in stocks since the end of last summer was attributable to the fact that money was so plentiful and not much of it went into the real economy," Wien said."An enormous amount went into financial assets. In June that money is going to be choked off, QE 2 is going to be over, and I don't think there is going to be a QE 3 and so therefore I think the market could be vulnerable."
"It's hard for me to assess how much of the big move in stocks since the end of last summer was attributable to the fact that money was so plentiful and not much of it went into the real economy," Wien said."An enormous amount went into financial assets. In June that money is going to be choked off, QE 2 is going to be over, and I don't think there is going to be a QE 3 and so therefore I think the market could be vulnerable."
