Barton Biggs

Re: Barton Biggs

Postby LenaHuat » Mon May 23, 2011 7:31 pm

Please be forewarned that you are reading a post by an otiose housewife. ImageImage**Image**Image@@ImageImageImage
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Re: Barton Biggs

Postby winston » Sat Sep 24, 2011 5:15 am

"We are at a very conservative position.

We reduced our net long from 70 percent a week ago to 20 percent as of now," Barton Biggs, managing partner at New York-based Traxis Partners told Reuters Insider.

Biggs said the chances of another recession in the United States are now three-in-four because officials in Europe and the United States are not doing enough to deal with the banking problems and their weak economies.

"Financial markets are sick and tired of the authorities in Europe and in the U.S. twiddling their thumbs and not doing substantive things to solve this crisis of the global economy, and that's what its all about," he said.

"The odds of a double dip recession on a global basis are increasing rapidly."

Source: Reuters
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Re: Barton Biggs

Postby winston » Tue Oct 18, 2011 5:27 pm

Barton Biggs Raises Bullish Bets to 65% of Macro Fund
By Inyoung Hwang and Betty Liu

Barton Biggs, the hedge fund manager who bought stocks when the market bottomed in March 2009, boosted bullish bets on equities in his Traxis Global Equity Macro Fund on improving U.S. economic data.

The fund’s net long position rose to 65 percent from 40 percent about a month ago, according to Biggs, the founder of Traxis Partners LP, in an interview with Betty Liu on Bloomberg Television’s “In the Loop” program. Biggs said on Sept. 22 that bullish bets at all Traxis funds had fallen to 20 percent.

“I’m inclined to stay where I am, which is moderately, cowardly bullish,” Biggs said. “The thing that makes me want to hang in there is that the high frequency economic news from the U.S. has definitely improved. It’s gotten pretty good.”

Biggs predicted on Aug. 18 that the S&P 500 may be bottoming after an 18 percent drop between April 29 and Aug. 8. Last month, he said bets that stocks will gain made up 20 percent of holdings at Traxis, down from as much as 85 percent six months prior, as the threat of a recession makes equities too risky.

“I wish I was minus 20,” he said during a Sept. 22 interview on Bloomberg Television. Markets were indicating policy makers have to change or the economy will slip into a double-dip recession and stocks will plunge another 20 percent, he said at the time.

http://www.bloomberg.com/news/2011-10-1 ... o-65-.html
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Re: Barton Biggs

Postby winston » Mon Oct 31, 2011 8:39 pm

On Bloomberg:-

Barton Biggs is now 80% Long Equities from 60%
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Re: Barton Biggs

Postby winston » Tue Nov 22, 2011 4:37 pm

Biggs Cuts Bullish Stock Bets on Higher Odds of Recession
By Inyoung Hwang and Betty Liu

Barton Biggs, the hedge fund manager who reduced U.S. equity investments in September before the biggest monthly rally since 1991, cut bullish bets again on concern the odds of a U.S. recession have increased.

The Traxis Global Equity Macro Fund’s net long position has been lowered to less than 40 percent, and may be reduced another 15 percentage points, Biggs said during an interview on Bloomberg Television “In the Loop” with Betty Liu today.

“It’s a much more bearish environment than I anticipated,” he said. “We are going to have a decline at least back to the lows of last summer. God forbid, maybe even testing the lows of 2008 and 2009.”

The money manager’s optimism on U.S. stocks has gyrated along with the market. He raised the Traxis Global fund’s long equity position to 65 percent after slashing it to 40 percent in September, he said in an Oct. 17 interview. Biggs then boosted the figure to 80 percent, he said two weeks later.

The Standard & Poor’s 500 Index dropped five straight months through September before surging 11 percent in October.

Biggs said today the chance of a recession in the first half of 2012 has risen to between 60 percent and 70 percent. The S&P 500 fell the most in two months last week on concern Europe’s debt crisis will trigger a contraction.


http://www.bloomberg.com/news/2011-11-2 ... sion.html#
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Re: Barton Biggs

Postby winston » Mon Jul 16, 2012 7:49 pm

Just passed away ..
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Re: Barton Biggs

Postby winston » Tue Jul 17, 2012 6:18 am

Former Morgan Stanley strategist Barton Biggs dies at 79

BOSTON (Reuters) - Barton Biggs, a former chief global strategist for Morgan Stanley, who predicted that the Internet bubble would burst a year before it did, has died, the bank said on Monday.

Biggs was associated with Morgan Stanley for nearly four decades, joining as a partner, then founding the research department and later creating Morgan Stanley Investment Management, where he served as chairman until 2003.

Morgan Stanley Chief Executive Officer James Gorman sent a memo to bank employees on Monday saying that Biggs had died on July 14 at age 79. His death followed a short illness, his friend Byron Wien, another former Morgan Stanley strategist who is now vice chairman at Blackstone Group, said.

"He was known as an independent thinker, colorful writer and one of the pioneers of emerging markets investing," Gorman wrote in the memo which was obtained by Reuters. "Our Firm benefited from his vision," he added.

At Morgan Stanley, Biggs got the bank to focus on the equities business and later helped the bank see beyond U.S. markets, changing its vision from domestic to global, Wien said. "He was a major figure for Morgan Stanley."

Biggs also played a significant role in the hedge fund industry where he co-founded one of the industry's first firms, Fairfield Partners, in 1965. Nearly four decades later in 2003, he founded hedge fund firm Traxis Partners and remained one of its portfolio managers until the end of his life.

"Barton was an exceptional financial strategist and a great friend. He had an immense impact on the financial industry for five decades," said Julian Robertson, chairman and founder of hedge fund industry heavyweight Tiger Management, LLC.

But he may be best remembered for raising concern about what he called overpriced technology stocks long before the crash in 2000 and warning that the rally might end badly.

"He was negative on tech stocks, but he also thought in the early 1980s that the market had bottomed and he turned negative on Japan at the end of the 1980s," Wien said, adding "He made some very good calls along the way."

Throughout his own career Biggs fostered the careers of dozens of other prominent investors, including Wien, and changed the way some strategists conveyed their opinions.

"He invented me," Wien said, adding that Biggs wrote his commentaries in a way that portfolio managers felt as if they were having an conversation with him.

An avid tennis player who continued to work out every day, Biggs graduated from Yale University and earned an MBA from New York University.

http://www.reuters.com/article/2012/07/ ... nologyNews
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Re: Barton Biggs

Postby winston » Fri Jul 20, 2012 9:11 am

“Good information, thoughtful analysis, quick but not impulsive reactions, and knowledge of the historic interaction between companies, sectors, countries, and asset classes under similar circumstances in the past, are all important ingredients in getting the legendary ‘it’ right that we all strive so desperately for.”
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Re: Barton Biggs

Postby winston » Fri Jul 20, 2012 9:31 am

"The investment process is only half the battle.

The other weighty component is struggling with yourself, and immunizing yourself from the psychological effects of the swings of markets, career risk, the pressure of benchmarks, competition, and the loneliness of the long distance runner.”
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Re: Barton Biggs

Postby winston » Fri Jul 20, 2012 10:16 am

“There are no relationships or equations that always work.

Quantitatively based solutions and asset-allocation equations invariably fail, as they are designed to capture what would have worked in the previous cycle whereas the next one remains a riddle wrapped in an enigma.

The successful macro investor must be some magical mixture of an acute analyst, an investment scholar, a listener, a historian, a river boat gambler, and be a voracious reader.
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