[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fKYZKh71apZOIY06J5GTNLunW3_pq37N11gwB6RzLWcA":3,"$fa9LPrDx4ZOTHQGniO-h4c5u2UGdWYTelhlZuZtwoYA4":12},{"author":4,"tags":11},{"author_id":5,"author_name":6,"author_name_first_letter":7,"article_count":8,"bio":9,"short_bio":9,"slug":10,"image_url":9},193770,"Byron Wien","B",7,null,"byron-wien",[],{"quotes":13,"pagination":95},[14,27,38,50,61,72,84],{"id":15,"quote_text":16,"author_id":5,"source_id":17,"has_image":18,"author":19,"source":20,"quote_tag":21,"commentary":9},2695236,"People are taking a much harder analytical look at these stocks and are deciding that there are better places to make money.",4,false,{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[22],{"id":23,"tag":24},5672230,{"id":25,"tag_name":26},42952,"analytical",{"id":28,"quote_text":29,"author_id":5,"source_id":17,"has_image":18,"author":30,"source":31,"quote_tag":32,"commentary":9},2695231,"The stock market is going to surprise people right at the beginning of the year -- certainly go above 7,000, maybe to 7,500, ... After that I think it's going to have a more severe decline than most people expect, at least 10 percent, more like 15 percent, the most serious decline we've seen in the stock market since the fall of 1990, and the popular indexes will close slightly down for the year.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[33],{"id":34,"tag":35},5672223,{"id":36,"tag_name":37},13969,"above",{"id":39,"quote_text":40,"author_id":5,"source_id":17,"has_image":18,"author":41,"source":42,"quote_tag":43,"commentary":49},2695217,"Don't think I'm copping out. I'm committed to the positive set and if the year turns out negatively, I promise not to pull out the bearish surprises and say I had the right idea all along, but just went a little bit astray when I announced my bullish preference in January.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[44],{"id":45,"tag":46},5672214,{"id":47,"tag_name":48},211110,"announced","**The Backstory**\nByron Wien's quote was likely said in the context of his annual market outlook, a tradition he started in 1986 while working at Morgan Stanley. At that time, Wien was known for his bold predictions and commitment to a positive outlook, even when the market was unfavorable. This quote suggests that he was aware of the potential for his predictions to be proven wrong and was willing to own up to them.\n\n**The Hidden Insight**\nThe hidden insight in this quote is the tension between confidence and humility. On the surface, Wien appears confident in his positive outlook, but he also acknowledges the possibility of being wrong. This paradox highlights the importance of balancing conviction with a willingness to adapt and learn from mistakes. By acknowledging the potential for error, Wien demonstrates a level of intellectual humility that is essential for making informed decisions in uncertain environments.\n\n**How to Use This**\nTo apply this mindset today, professionals and creatives should strive to maintain a similar balance between confidence and humility. When making predictions or setting goals, acknowledge the potential for uncertainty and be willing to adjust your approach as new information becomes available. This mindset allows for greater flexibility and resilience in the face of unexpected challenges.",{"id":51,"quote_text":52,"author_id":5,"source_id":17,"has_image":18,"author":53,"source":54,"quote_tag":55,"commentary":9},2695201,"We are going to have another good year next year, but my feeling is that the days of 15 to 20 percent or even better returns are over. So we are settling back to where the performance in the market is going to be more in line with earnings growth.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[56],{"id":57,"tag":58},5672195,{"id":59,"tag_name":60},2775,"days",{"id":62,"quote_text":63,"author_id":5,"source_id":17,"has_image":18,"author":64,"source":65,"quote_tag":66,"commentary":9},2695189,"There is no identifiable exogenous shock looming, but investing is about probabilities and I believe it is prudent to raise more cash, ... At some point I expect a correction of 10-20 percent.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[67],{"id":68,"tag":69},5672180,{"id":70,"tag_name":71},2955,"believe",{"id":73,"quote_text":74,"author_id":5,"source_id":17,"has_image":18,"author":75,"source":76,"quote_tag":77,"commentary":83},2695179,"I am doing this because I think a strong case can be made for either set and because I think it is constructive to try something new,",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[78],{"id":79,"tag":80},5672170,{"id":81,"tag_name":82},11592,"case","**The Backstory**\n\nThis quote from Byron Wien, a renowned American stockbroker and investment strategist, likely dates back to his time at Pequot Capital Management in the early 2000s. During this period, Wien was known for his contrarian views and willingness to challenge conventional wisdom. The financial markets were undergoing significant changes, with the dot-com bubble bursting and the emergence of new technologies.\n\n**The Hidden Insight**\n\nOn the surface, the quote seems to convey a sense of open-mindedness and willingness to explore alternative perspectives. However, upon closer examination, it reveals a deeper tension between Wien's desire for intellectual honesty and his recognition that uncertainty is an inherent aspect of decision-making. The phrase \"a strong case can be made for either set\" suggests that Wien was aware of the complexity and nuance involved in making decisions under conditions of uncertainty.\n\n**How to Use This**\n\nTo apply this mindset today, a modern professional or creative could benefit from embracing a \"both/and\" approach when faced with conflicting ideas or perspectives. Rather than trying to resolve the dichotomy, one can acknowledge the validity of multiple viewpoints and use that recognition as an impetus for exploration and innovation. By accepting uncertainty as an opportunity rather than a barrier, individuals can foster a culture of constructive debate and experimentation in their own work.",{"id":85,"quote_text":86,"author_id":5,"source_id":17,"has_image":18,"author":87,"source":88,"quote_tag":89,"commentary":9},2695157,"My feeling is that these attacks on him are going to subside by the (end of the year), and my surprise is that the Clintons will enjoy Christmas 1997 with the highest popularity rating of any president since the 1950's,",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[90],{"id":91,"tag":92},5672154,{"id":93,"tag_name":94},33573,"attacks",{"currentPage":96,"totalPages":96,"totalItems":8,"itemsPerPage":97},1,10]