Traxis’ Biggs Sees Big Things For U.S. Stocks

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



In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.