I have long been an admirer of Byron Wien, longtime investment strategist at Morgan Stanley and Pequot, and now Vice Chair at Blackstone. For many years he has had the courage to go out with his signature “10 Surprises of the Coming Year” list, and even more courageously, at the end of the year he takes account of his bets, publicly and objectively. Last month Mr. Wien put out his most valuable publication yet, talking about the top lessons he takes from his first 80 years on earth. Since I can’t find official note of this publication on the Blackstone site, and since it is going in my “wise things to keep forever file”
I am repeating it here in its entirety, with all credit and thanks to Mr. Wien.
Here are some of the lessons I have learned in my first 80 years. I hope to continue to practice them in the next 80.