Byron Wien, vice chairman of Blackstone Advisory Partners, has been predicting a stock market correction for months. And even with stocks breaking record highs, he’s sticking to his guns.

Global monetary easing has left equities over-baked, Wien tells CNBC. “I think this is a market that’s levitating on monetary expansion, not only in the United States but in Europe and in Japan.”

The Federal Reserve has added more than $2 trillion to its balance sheet over the last five years, and it will likely add another $1 trillion this year, Wien says.

Editor's Note: The Final Turning Predicted for America. See Proof.

So when money supply finally stops growing, “it's going to have an impact on the market,” he explains.

In addition, profit margins are peaking, both as a percentage of sales and of national income, Wien says. Furthermore, he expects earnings to disappoint.

“I'm not a bear, but I do think the market has come a long way — up 16 percent last year, up 10 percent in the first quarter alone. I think a correction is coming.”

University of Pennsylvania finance professor Jeremy Siegel doesn’t share Wien’s caution. He predicts the Dow Jones Industrial Average will reach 16,000 this year.

That would represent a 9.5 percent gain from 14,606 Thursday’s close.

“The low interest rates are going to fuel continual [earnings]-multiple expansion. I think earnings are going to be better,” Siegel tells Yahoo. “We’re not done yet. I think this market has a lot of room to run.”

With bond yields so low, stocks should have higher price-earnings ratios, he maintains.

Editor's Note: The Final Turning Predicted for America. See Proof.