This is from 10/31/07 after the market rallied on the rate cut. video is on the cnbc page, his interview starts at 10:09. http://www.cnbc.com/id/21562349 Biggs Expects Surge Barton Biggs of Traxis Partners joined the "Fast Money" crew to share his take on the markets. Biggs thinks the Fed did what it should have done and the market is being set up for a big surge higher. He also mentioned that he is hearing from the prime brokers that hedge funds are at their lowest levels of being net long in 4 years. He expects a stampede into year end in big cap big multinationals, tech, Asia and emerging markets. Biggs feels China right now is just like U.S. tech stocks in early 1999. He thinks the investment banks are signaling they will perform well into year end. The commercial banks he feels are a tougher story. He pointed out that Citigroup (C - Cramer's Take - Stockpickr - Rating) is too cheap. Lastly, Biggs mentioned that his favorite position right now is investment banks and he has been adding to that position recently. Dennis Gartman Take Dennis Gartman, author of The Gartman Letter, another guest on "Fast Money" discussed his take on the commodity space. Gartman thinks Barton Biggs is right about a stock market melt up into year end.
Did you fade his August 15 call for a medium term bottom? Say what you will, I like Biggs a lot. His hedge fund Traxis Partners manages around $2bln, this guy is not a fluke. I can wholeheartedly recommend his book "Hedgehogging". Very interesting read, well worth the money and time.
I like him too but that is some shitty timing. Don't know why he decided to stick his neck out right there with that call.
Just like Rogers he's an investor, not a trader. Timing has never been their strength, I guess they're just whores to the media making these predictions so they get free airtime promoting their funds/books etc.
Biggs actually trades and tells you what he likes.....Rogers talks in such broad brushes he is always going to be right.... Read his book....you might learn something about investing and trading.... SteveD
I am not surprised our resident ET experts have to call out a guy like Biggs and call him a "perfect fade". Oldschool investor, in the markets for decades, saw all manias and recessions and made his investors $350m net of fees this year. http://www.ft.com/cms/s/0/df9975ce-924a-11dc-8981-0000779fd2ac.html Morgan Stanley takes slice of Barton Bigg's Traxis "Morgan Stanley bought less than 20 per cent of the $1.5bn fund, which invests in equities, fixed-income, commodities and other securities around the world." "Mr Biggs founded Traxis after leaving Morgan Stanley in 2003. Unlike some other global macro funds, Traxis has performed well during the credit squeeze and was up 23 per cent for the year through October. It is up 13 per cent on an annualised basis since inception. He spent 30 years at Morgan Stanley and became well known for his strong views on global market developments. Mr Biggs has published Hedgehogging, an insiderâs look at the hedge fund world, based on his personal diaries."
Traxis hedge fund says dips in Nov. but up on year NEW YORK, Dec 19 (Reuters) - The Traxis Fund, a $1.6 billion hedge fund co-founded by former Morgan Stanley chief strategist Barton Biggs, slumped 4.3 percent in November but is still up more than 24 percent for the year, according to a note the fund sent to investors this week. The results came after Traxis, a "macro" fund that trades global currencies, stocks and bonds, was up 7.78 percent in September and 8.53 percent in October, its best months this year. "After two very strong months, the Traxis Fund took it on the chin (in November) with an estimated decline of 4.35 percent," the fund managers said in the note obtained by Reuters. More: http://www.reuters.com/article/etfNews/idUSN1962267020071219?pageNumber=1&virtualBrandChannel=0