http://www.bloomberg.com/avp/avp.ht...//media2.bloomberg.com/cache/vREtmlODS3lY.asf http://www.bloomberg.com/avp/avp.as...cache/vREtmlODS3lY.asf&vCat=/av&RND=242444597
You are right....very unusual for him to be like a deer in the headlights.... This tells me opportunity is knocking.... Particularly country by country....Templeton style... ie when China is down 70%.....etc... By the way.....lots of cash is going to one side of the boat.... Actually.....the volatilty is fantastic for day trading.... And from an investment point of view...it could not be a better time to start averaging by country.....Templeton style....possibly once in a lifetime type opportunity over a 3 year premise..... People always hate stocks when they go on sale....always.... This never changes......
This is the same guy I remember watching on cnbc, believe it was on fast money in November or December 2007 that said there was going to be a "MELTUP" in the markets. Wow was he making a foolish call at that time and this time. Do the complete opposite of what he does.
Don't have to go back that far. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ahGpkom8SbJk http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ak02uRkRults
I like Biggs, like many he had his good and bad calls. He urged people to get out of stocks in 1999 and back in in early 2003 when he predicted a 40% rally. I also think he predicted a 1000 point Dow rally in March after the BSC bailout. He was dead wrong on his melt up call in late 2007. Never seen him so scared as in this call. He's completely passive and has zero opinion. Probably threw in the towel.
This is the same idiot that called for a parabolic rally last year.... The bottom line is this: it is IMPOSSIBLE to predict so far into the future, one can look at the information at hand and derive a logical conclusion on what is most likely to occur but to make such dramatic and controversial stands are stupid.
Paraphrasing... "There are old traders and there are bold traders... but there are no old, bold traders."
Geess you two summed it up nicely, imo. I'm 55 and well aware of the looming problem of old vs bold. Sometimes I try to look at life as if I was born yesterday, too much baggage with experience and "wisdom".