Renowned Wall Street strategist Byron Wien, known for his annual list of "10 Surprises," has died at the age of 90. Wien, who spent the majority of his career at Blackstone Inc. and Morgan Stanley, was a highly influential figure in the financial industry and his predictions had the power to move markets. His passing marks the end of an era for the world of finance.

Wien's death was confirmed on Wednesday, news that spread sorrow throughout Wall Street. Serving as a vice chairman at Blackstone, he was responsible for providing market insights and prognostications to the firm and its investors. In a memo circulated at the company, Blackstone CEO Steve Schwarzman and President Jon Gray expressed their condolences, acknowledging Wien's remarkable life and his ability to push everyone around him to think about future risks and opportunities.

Born in Chicago in 1933, Wien endured a challenging upbringing after losing both his parents at a young age. However, he overcame these adversities and built a successful career that spanned over five decades. In 1986, while serving as the chief US investment strategist at Morgan Stanley, Wien began publishing his annual list of "10 Surprises," which quickly became a must-read for investors. His predictions often focused on low-probability events with higher-than-expected chances of occurring, capturing the attention of the financial world.

Throughout his career, Wien's forecasts experienced varying degrees of success. While many of his predictions proved accurate, there were notable misses as well. Nevertheless, even when he was wrong, Wien's influence on Wall Street remained significant. His ability to provoke thought and stretch people's thinking garnered him a loyal following. Commenting on Wien's predictions, stock picker Jim Cramer remarked on CNBC's Squawk on the Street, "When he's right, you can make a fortune."

In 2009, Wien joined Blackstone after a stint at Pequot Capital Management Inc. His role at the firm allowed him to advise clients in analyzing economic, political, market, and social trends. Wien's writings played a crucial part in establishing Blackstone as a trusted resource for financial advisers and wealthy individuals. Over the years, the company has expanded its reach beyond institutional investors, now catering to a broader spectrum of clients.

Wien's contributions to the financial industry garnered him numerous accolades. First Call named him the most widely read analyst in 1998, and Smart Money ranked him as the No. 1 strategist two years later. New York magazine even labeled him one of the 16 most influential people on Wall Street in 2006. In recognition of his lifetime achievements, Wien received a prestigious lifetime achievement award from the New York Society of Security Analysts.

Beyond his professional achievements, Wien was known for his unrelenting work ethic and passion for networking. He believed in the power of lifelong learning, encouraging others to travel extensively, read constantly, and network intensively. He once famously said, "If you work forever, you can live forever," highlighting his dedication to his craft and the belief that true success lies in staying active.

In recent years, Wien worked alongside his successor, Joe Zidle, in formulating the "10 Surprises." Their predictions for 2021 included a market bottoming by mid-year and a recovery comparable to the one experienced in 2009. Additionally, they speculated that Elon Musk would lead a Twitter recovery by the end of the year.

Byron Wien leaves behind a rich legacy in the financial world. His annual predictions and thought-provoking insights impacted countless investors, while his relentless pursuit of knowledge and dedication to his work inspired many. Though his passing marks the end of an era, Wien's influence and contributions will continue to shape the industry for years to come.