Byron Wien, vice chairman of Blackstone’s advisory services unit, announced his annual “10 Surprises” list, which he has published every year since 1986.The 80-year-old former Morgan Stanley senior strategist defines the "surprises" as events investors assign 1-in-3 odds of happening, but that he says are more than 50 percent likely in 2014.

The 10 surprises are:

1.) The S&P 500 rises 20 percent after a 10 percent correction.