Byron Wien, chief investment strategist of $7.3 billion Pequot Capital, this week issued his list of predictions for ten investment surprises likely to occur in 2007, a tradition he has kept up for 22 years.
Among the more notable forecasts, Wein sees the S&P 500 exceeding 1600 and the price of oil rising again to $80 per barrel. Commodity prices may also continue to soar, he says.
Wien, whose career on Wall Street spans 40 years, joined Pequot in 2005 from his post as senior investment strategist at Morgan Stanley. He explained in his letter, issued by Pequot to investors, that about half of his predictions have tended to work out in some way.
"I have had years when seven out of ten were essentially on target, but I've never done better...