Yes there will probably be one. he is saying it not to make you rich, but to offload on you on the way up.
<i>"``I can't get wildly bearish,'' Biggs said. ``This is not the end of the world.''</i> Of course it's not the end of the world. Only the end of a five-year bull market. The Dow is much more likely to drop -1,000 pts from right here than rally +1,000 pts. For sure we'll see plenty of up & down for a long time to come, thankfully. Nobody found a multi-year bottom today.
Biggs's prediction in March 2007 that U.S. stocks were near a low preceded a 16 percent rally in the Dow average during the next four months. Probably Biggs was right again. 800 points rally already
He also at the end of the year called a great bull market. And then the market proceeded to fall almost 20% in the days (for the following month) immediately after his call.
Friday 14 march 2008, Barton Biggs predicted a Big Rally and there was a big rally starting from monday 17 march 2008. About one thousand points for DJIA in two days. The rally ended on may 2, 2008. On friday 24 October 2008 Biggs said ``One of these days, even if the world is going to hell, we will have a tremendous run-up,'' said Biggs, 75. ``There is an extreme level of pessimism and almost despair. As long as I have been in the business, those have always been good signs.'' http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aoUldsftFVAw Oct. 24 (Bloomberg) -- U.S. and European stocks are ``very, very cheap'' after the Standard & Poor's 500 Index lost 40 percent this year, the worst annual drop since 1931, according to Barton Biggs, managing partner at hedge fund Traxis Partners LLC. ``U.S. and European markets have blown out to record levels of attractiveness versus bonds,'' Biggs said in an interview with Bloomberg Television. ``We're at very, very cheap levels.'' The S&P 500 trades for 11 times estimated profit for the next 12 months, while Europe's Dow Jones Stoxx 600 Index fetches 7.7 times earnings, according to data compiled by Bloomberg. The S&P 500's dividend yield is 3.46 percent, compared with the 10- year Treasury yield of 3.69 percent, the data show. ``One of these days, even if the world is going to hell, we will have a tremendous run-up,'' said Biggs, 75. ``There is an extreme level of pessimism and almost despair. As long as I have been in the business, those have always been good signs.'' The investor said large, ``high-quality'' U.S. companies including Cisco Systems Inc., 3M Co. and Procter & Gamble Co. are the cheapest in the world. ``And if you've really got the intestinal fortitude, these emerging markets have been absolutely crushed,'' he said. Biggs was wrong in February when he said the U.S. stock market is ``at or very close to an important bottom.'' The S&P 500 has since plunged 35 percent. Russian shares are ``dirt cheap'' because oil has plunged more than 50 percent in less than four months and Prime Minister Vladimir Putin ``acted like a jerk,'' Biggs said. The hedge-fund manager also said he favors India because it will be ``the next China.'' Russia's Micex index has retreated 73 percent in 2008, while India's Sensitive Index lost 57 percent. Both measures had surged sixfold since the end of 2002. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aBTL.Wro3MEQ Itâs âpanic creating a freefall as investors simply liquidate anything and everything,â said Walter Gerasimowicz, the New York-based chief executive officer at Meditron Asset Management, which manages $1.1 billion. âThe market seems to be very overdone, almost pricing for a depression.â http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ajRLd2ZN3_2g The stock market is ready for the year end rally
Right, a year end rally to 7500-8000, that's because the Dow is headed below 7500 probably even 7000 and any rally will push it back to 8000+ by year end. There is no bull market coming this bear is here to stay a very long time....
^vix at 80-90 is pricing in a 23%-25% move in the next 30 days either up or down. 68% chance it will be below that range though, but you get the idea 1000 points is nothing, we saw 1000 points in one day last week.