Wednesday, October 15, 2008

Wien: Stock Market Will End Year Higher Than Today. And: Joe Kernen Calls Byron Wien A Dinosaur

EDIT: Mr. Wein's comments were made before the open today so, adding back 733.08 Dow points his target is 9310.99. Adding back the S&P 500's 9% loss it's 998.01.
Original post:

From CNBC:
The stock market has hit a low and will end the year higher than it is today, a top market watcher told CNBC Monday.

Byron Wien, Pequot Capital Management's Chief Investment Strategist, said "we've made a low, we're going to rally and then retest it.">>>MORE

From ClusterStock:
Squawk Box co-anchor Joe Kernen may have touched a nerve with Byron Wien this morning when he referred to the chief investment strategist at Pequot Capital as a dinosaur. Although Kernan was making an irreverant joke, it might have stung because inside Pequot Wien is known as Byronosaurus Rex.

After Wien, who guest hosted the CNBC morning show today, disparaged Republican vice presidential nominee Sarah Palin's remarks decrying greed on Wall Street, Kernen pointed out that other legendary Wall Street men had also put down the Alaskan governor.

"Gutfreud was trashing Palin too. I don't know what it is with these old dinosaurs from the Street," Kernen said.

Wien cut him off. "Ooh. That's actionable," Wien said. Becky Quick could be heard saying "wow" over and over again in the background.

"Dinosaur doesn't mean old," Kernen backtracked. "It just means you've been around a long time."

"No. It means you're extinct," Wien shot back....MORE