I took notice of these 2 on Fast money wednesday night when Biggs mentioned a melt up and Gartman agreeing with what he had to say...... 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.
Biggs sure had some bad timing here with the broker/financial call. I like him a lot though, one of the few talking heads I like listening to.
I like his commentary for years. however i resent the fact that he and his firm took the closed end fund of pakistan private just before the pakistanti market tripled. it was one of the great buy signals of all times. but then again it was easy to determine because at the time they were sacrificing goats on the exchange floor with the hope that it would bring prosperity.