Wednesday, 26 October 2016
Last updated 12 hours ago
May 12 2010 | 9:37am ET
Add the voice of Barton Biggs to the chorus of hedge fund managers who see big things for the U.S.—and world—economy.
The Traxis Partners founder pooh-poohed any suggestion that anything could blunt the market rally he predicted for this year. Not even the European debt crisis.
“I would just point out that the world is having a strong economic recovery, and so is Europe,” he told Bloomberg Television.
Biggs is especially bullish, however, about the U.S., with Morgan Stanley’s former chief strategist predicting a 15% to 20% rally in stock prices. In particular, he’s favoring technology and pharmaceutical stocks, as well as property companies.
“There are plenty of opportunities in the U.S.,” Biggs said. “It’s by no means a foregone conclusion that we have a crisis every three years and, my God, that the world is coming to an end.”
“I don’t believe that’s what’s happening at all.”
Original Airdate: May 11, 2010