The financial world has lost a legend in the passing of Byron Wien, longtime strategist at Morgan Stanley and more recently Vice Chair at Blackstone Advisory Partners. For many years he had the courage to publish his signature “10 Surprises of the Coming Year” list, and even more courageously, at the end of each year he took account of his prior bets, publicly and objectively. As a young analyst, this kind of example from a senior practitioner had a tremendous influence on me – but these life lessons he shared later on in his carer have stuck with me even more.
May we all have teachers as generous as Byron, with wisdom as great as this to impart.
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.