I think it's time we stop, fools, what's that sound Everybody look what's going down
"There's something happening here
What it is ain't exactly clear
There's a man (Barton Biggs) with a gun over there
Telling me I got to beware
I think it's time we stop, fools, what's that sound
Everybody look what's going down"
From May 11, 2010
Biggs Says U.S. Stocks May Rise 20% as Economy Rebounds
By Shani Raja and Susan Li - May 11, 2010
U.S. stocks could jump as much as 20 percent, led by technology companies, as the global economy rebounds from Europe’s debt crisis, said Barton Biggs.
“I’m betting the next move in the U.S. market is going to be up 15 to 20 percent,” Biggs, who runs New York-based hedge fund Traxis Partners LP and whose flagship fund returned three times the industry average last year, said in a Bloomberg Television interview. “I would just point out that the world is having a strong economic recovery, and so is Europe.”
Biggs recommended buying U.S. stocks last year when benchmark indexes sank to the lowest levels since the 1990s.
Biggs is a bull no longer. This week, he went from 70% stocks to about 30%. The story is here.
From July 03, 2010
Biggs Sells Stocks on Concern `Soft Patch' to Worsen http://www.bloomberg.com/news/2010-07-02/biggs-sells-technology-stocks-on-concern-soft-patch-to-worsen.html "Biggs, 77, said yesterday he cut bullish bets by about half since June 29, when they made up 70 percent of his fund.
“I can change my mind very quickly,” Biggs, who manages $1.4 billion, said in a telephone interview following the Bloomberg Television appearance. “I’m not wildly bearish, but I don’t want to have a lot of risk at this point. I just want to have less exposure at a time like this.” The withdrawal of government stimulus, including the U.S. Senate’s vote against extending unemployment benefits on June 30, "
FYI - From Jan. 6, 2010
Barton Biggs: Stock A Safe Haven With Food And Firearms To Protect Against Doomsday Pillagers
Morgan Stanley research guru turned hedge fund manager Barton Biggs (pictured), who called the market rally, advises that you buy a farm a good distance away from a city and, he advises, make sure that your doomsday safe-haven: Be self-sufficient and capable of growing some kind of food Be well-stocked with seed, fertilizer, canned food, wine, medicine, clothes, etc
Read more: http://www.businessinsider.com/barton-biggs-stock-a-safe-haven-with-food-and-firearms-to-protect-against-pillagers-2010-1#ixzz0sjXBD93Q