Plenty of esteemed strategists are revising their S&P [.SPX 1413.17 -4.96 (-0.35%) ] estimates lower but not the legendary Byron Wien.
In a live interview on CNBC’s Fast Money Halftime Report Wien, who is Blackstone Advisory Partners Vice Chairman, tells us he sees every reason for the market to rally.
“I see us going to 1500,” he says. “We won’t go in a straight line – it might be a saw-tooth pattern – but I think we get there by year’s end.”
S&P 500 Index(.SPX) 1413.17 -4.96 (-0.35%%) INDEX Wien says that his bullish outlook is due in part to the latest economic data which shows modest improvement. “The US is getting better.” And he believes the market is growing more comfortable with the crisis in Europe.