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The bear market and recession are over and the S&P 500 is 'fully priced' with little room to run upward, investing legend Byron Wien says

The bear market and recession are over and the S&P 500 is 'fully priced' with little room to run upward, investing legend Byron Wien says
Reuters / Sebastien Nogier



Byron Wien told Bloomberg that the bear market and recession are over, and while the S&P 500 may climb slightly higher, it will not be making any "major strides upward" this year.






The vice chairman of Blackstone Private Wealth Solutions said the S&P 500 is "fully priced."






He also applauded US technology companies for their creativity, but said the US should be a manufacturer as well as an innovator to compete globally.






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Byron Wien told Bloomberg on Wednesday that the bear market and recession are over and while the market may climb a little bit higher by the end of the year, it won't "make major strides upward from this point."
"I can see the S&P 500 being a little bit higher than it is today, but basically I think it's fully priced at this point," said the vice-chairman of Blackstone Private Wealth Solutions. In January Bloomberg reported that Wien said the S&P 500 would climb above 3,500 at some point in 2020.
The S&P 500 has rallied more than 50% from its March 23 low. The index is nearing a new record high on Wednesday, trading as high as 3,382.83 points.
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