The stock market legend said, ‘I don’t think there’s much upside from here, but U.S. stocks could rise in 2022 if earnings are good

The Bulls seem to be in charge again on Wall Street, but legendary investor Byron Vienne says buyers shouldn’t be too overwhelmed.

In a CNBC interview on Thursday, the legendary investor and vice chairman of Blackstone Personal Asset Solutions warned that the uptrend for the U.S. stock market from here could be limited.

“I don’t think there’s much to the contrary … not much more than the current level,” Win told the Business Network. He said he predicts the S&P 500’s full earnings per share or EPS will be $ 225 and predicts it could be 250 250 for 2022, which could buy a little more next year. Factset data shows that the 2021 EPS will be 199 199 and the 2022 EPS project will be 8 218.

Win, meanwhile, estimates that the 10-year Treasury note TMUBMUSD10Y yields 2%,
Would be fairly valuable for government debt but said it could take a risk on Wall Street if it goes above 3%.

But for now, veteran investors are seeing that the market has taken the appropriate steps.

“What we’re going to see from here is a general format,” Win said. He said that the years “20% [returns] Behind us. “

The stock market started after a certain talk note in the first full week of October which raised doubts about equity while maintaining their bullish stance, just to get back to this point.

Dow Jones Industrial Average DJIA,
The S&P 500 index has risen 1.3% so far this week.
SPX gained 1%, while the Nasdaq Composite Index Comp,
The technology-rich index rose 0.6% after falling 2.1% on Monday, down 7.3% from a September 7 record high.

Owen has now been providing a list of annual potential surprises for decades.

The Blackstone executive told CNBC on Thursday that the market is indicating that it believes debt payments will eventually solve them but he is personally concerned about “unnecessary spending” under the Biden administration, which he fears could add to the budget deficit. .

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