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biggs says rally soon
- Thread starter Free Thinker
- Start date
Quote from vhehn:
Expects 1,000-Point Gain in Dow as Fear Recedes
By Brian Sullivan and Michael Patterson
March 14 (Bloomberg) -- The decline in U.S. stocks is ``way overdone'' and the Dow Jones Industrial Average may rally 1,000 points, investor Barton Biggs said.
``We're in a financial panic,'' Biggs said during a telephone interview with Bloomberg Television from New York. ``We're setting up for a really big rally. I don't mean three or four hundred points on the Dow, I mean 1,000 points on the Dow. I don't know if we're going to get it next week or the week after. But this thing has gotten crazy and is overdone.''
Biggs, a former Morgan Stanley strategist who now runs the $1.5 billion hedge fund Traxis Partners LLC, said ``this is the time to be buying stocks around the world and not to be selling them.''
The Dow average has tumbled 16 percent since reaching a record in October.
``I can't get wildly bearish,'' Biggs said. ``This is not the end of the world.''
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.
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.
Quote from vhehn:
Expects 1,000-Point Gain in Dow as Fear Recedes
By Brian Sullivan and Michael Patterson
March 14 (Bloomberg) -- The decline in U.S. stocks is ``way overdone'' and the Dow Jones Industrial Average may rally 1,000 points, investor Barton Biggs said.
``We're in a financial panic,'' Biggs said during a telephone interview with Bloomberg Television from New York. ``We're setting up for a really big rally. I don't mean three or four hundred points on the Dow, I mean 1,000 points on the Dow. I don't know if we're going to get it next week or the week after. But this thing has gotten crazy and is overdone.''
Biggs, a former Morgan Stanley strategist who now runs the $1.5 billion hedge fund Traxis Partners LLC, said ``this is the time to be buying stocks around the world and not to be selling them.''
The Dow average has tumbled 16 percent since reaching a record in October.
``I can't get wildly bearish,'' Biggs said. ``This is not the end of the world.''
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
Quote from aresky:
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
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