"I said at the beginning of the year I thought the market was poised for a selloff. My feeling was that sentiment was too positive. Everybody made money last year, no matter what you owned. You may not have kept up with the S&P 500, but you logged in a good profit by year end," he said on CNBC's "Halftime Report."
While the market could still correct, Wien said that the case for equities was still strong.
(Read more: Byron Wien: 10 percent correction looms–here's why)