Barton Biggs Is Back in the Bull Camp

Barton Biggs, the head of Traxxis Partners, who sold half his equity holdings at the start of July, is back in the bull camp. Biggs said on July 2 he was cutting his stock holdings on concerns that governments around the world would curtail stimulus measures too soon. He has apparently reversed his position.

Bloomberg: “I’ve definitely changed my mind to the degree of risk out there,” Biggs said in a radio interview with Tom Keene on Bloomberg Surveillance. “Economic data around the world in the last 10 days to two weeks has turned more positive. It has exceeded forecasts almost without exception. The odds of the world slumping into a significant slowdown has diminished”.

“The environment is fairly decent right now and there are opportunities,” said Biggs, whose fund gained almost three times the industry average last year, according to data compiled by Bloomberg and Chicago-based Hedge Fund Research Inc. “You are where you are and it’s a new day.”

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