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Stocks can continue to rally through the rest of this year, but next year is a cause for concern as the effects of the stimulus packages start to wear off, Byron Wien, chief investment strategist at Pequot Capital, told CNBC Tuesday.
“I think the rest of this year is going to be good … I think we’re going to feel good by Christmas, it’s next year that I’m worried about,” Wien said.
“My big concern right now is what’s going to drive the economy when the stimulus wears off,” he said.
Wien said he thinks that the market is going to continue to rise and the year’s lows were already hit on March 9.
Pequot Capital is dealing with an insider trading investigation and is due to be wrapped up on June 30.
"Our returns were very good, it’s just a sad moment in investment management,” Wien said.
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