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S&P won’t make progress in 2022, says Blackstone VC

Even though the market has fallen in January, Byron Wien, Vice Chairman of Blackstone’s Private Wealth Solutions group, doesn’t believe it will lead to a recession. Wein was talking at the Sohn'X Tel Aviv Investment Conference held in partnership with Calcalist

Ma’ayan Manela | 12:34  30.01.2022

Covid-19 will continue to be a problem, inflation will become a dominant theme and S&P won’t make any progress in 2022, those are some of the predictions made by Byron Wien, Vice Chairman of Blackstone’s Private Wealth Solutions group during his talk at the Sohn'X Tel Aviv Investment Conference held in partnership with Calcalist.

The conference, which will benefit Silent Angels, the Israeli Rett Syndrome Association, will include six events hosting leading global investors, the first five to be held online and the sixth to be held in-person in June.

Wien’s talk was focused on his 10 surprises for 2022. Wien describes a surprise as an an event that the average investment professional would assign a one-out-of-three chance to take place, but which he believes is probable, having a better than 50% chance of happening.

“We started the year very poorly with the market falling by over 10%. I think it will continue to drop, but I don’t think we will enter a bear market or a recession,” explained Wien. “We still have the rest of the year to make up for January’s drops.”

Wien also addressed the climbing inflation in the U.S., which accelerated to 7% in the last month of 2021. “The inflation won’t remain that high but it will reach 4.5%,” said Wien. “The meaning of that is that interest rates will probably rise. One of the reasons that the market is so weak is that inflation is high and interest rates are rising, which reduces the profit margins for growth stocks.”

Rett syndrome is a non-hereditary neuro-developmental disorder that occurs mainly in girls (about one in 10,000 girls’ births). The syndrome is characterized by normal development in the early stages of life, followed by a variety of disorders: loss of speech, loss of hands use, walking disorders, irregular breathing, and indigestion. Despite the difficulties they face, girls with Rett syndrome have smart and expressive eyes. They make contact with their surroundings with their eyes. They are active, vital and full of joy of life, and for this reason they are fondly called around the world “Silent Angels”.

Donations to Silent Angels can be made at the following link.

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