2013 Predictions: S&P 500 Plunges, Gold Soars
NEW YORK (TheStreet) — Blackstone’s BX Byron Wien has never been one to shy away from predictions. The Vice Chairman of Blackstone Advisory Partners has produced his 2013 list, including predictions on gold, oil, and everyone’s favorite stock,Apple AAPL .
Among some of the more notable macro calls Wien makes are concerns over oil prices, as he believes the price of West Texas Intermediate could plunge on new rules out of Washington. Wien is also bullish on Chinese stocks, as the new government there seems determined to weed out corruption and encourage economic growth.
He’s also bullish on gold, saying it could reach as high as $1,900 per ounce on macro uncertainties and continued currency debasement from central banks around the world.