Expects 1,000-Point Gain in Dow as Fear Recedes By Brian Sullivan and Michael Patterson March 14 (Bloomberg) -- The decline in U.S. stocks is ``way overdone'' and the Dow Jones Industrial Average may rally 1,000 points, investor Barton Biggs said. ``We're in a financial panic,'' Biggs said during a telephone interview with Bloomberg Television from New York. ``We're setting up for a really big rally. I don't mean three or four hundred points on the Dow, I mean 1,000 points on the Dow. I don't know if we're going to get it next week or the week after. But this thing has gotten crazy and is overdone.'' Biggs, a former Morgan Stanley strategist who now runs the $1.5 billion hedge fund Traxis Partners LLC, said ``this is the time to be buying stocks around the world and not to be selling them.'' The Dow average has tumbled 16 percent since reaching a record in October. ``I can't get wildly bearish,'' Biggs said. ``This is not the end of the world.''