Byron Wien Reputation Rebuilt as Strategist Sees Stock Gain

(Bloomberg) -- The steepest rally in the Standard & Poor’s 500 Index since the 1930s is restoring Byron Wien’s reputation as a stock picker. Wien, hired by Blackstone Group LP last month, said he’s keeping his January forecast for a 33 percent annual gain in the benchmark index for U.S. equities, implying a 13 percent advance from yesterday’s close. Seven months ago, the S&P 500 needed to rise 77 percent to reach Wien’s year-end prediction of 1,200.

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