Many investors believe a handful of myths about the future of the global economy, according to a veteran market strategist.
In a new commentary online, Blackstone Advisory Partners vice chairman Byron Wien wrote that observers may be getting four things wrong.
He argued that American's global dominance isn't over, as some believe; the price of oil will rise faster than many expect; Europe is not doomed to long-term slow growth and deflation; and the Japanese economy will actually be revived by the stimulus programs known as Abenomics.
"In talking with investors, I find four concepts prevail among the consensus that I believe may be wrong," Wien wrote.
"I decided to explore each of these to see whether the ideas are sound, or more in the realm of myths that have somehow gained credibility among investors, without significant factual support."