Barton Biggs sees little reason to be bearish

Barton Biggs, who trimmed bullish bets in September before U.S. stocks posted the biggest monthly gain since 1991, said that though he doesn't want to be fully invested in equities, “it's hard to get really bearish.”
DEC 12, 2011
Barton Biggs, who trimmed bullish bets in September before U.S. stocks posted the biggest monthly gain since 1991, said that though he doesn't want to be fully invested in equities, “it's hard to get really bearish.” “Except for Europe, the rest of the world economy is doing pretty well,” the hedge fund manager said last week during an interview on Bloomberg Radio. “There's too much bearishness, and equities — particularly U.S. equities and emerging-markets equities — are very cheap relative to fixed income, Treasury bonds, high yield, other financial assets.” His Traxis Global Equity Macro Fund's net long position, a gauge of bullish versus bearish investments, is about 60%, Mr. Biggs said. During a Nov. 21 interview, he said that he cut the figure to less than 40% and might reduce it another 15 percentage points. Mr. Biggs raised the Traxis Global fund's long equity position to 65% after slashing it to 40% in September, he said during an Oct. 17 interview. He then boosted the figure to 80%, he said two weeks later. The S&P 500 dropped five straight months through September before surging 11% in October.

Latest News

AI financial advice lifts demand for human advisors, says Vanguard
AI financial advice lifts demand for human advisors, says Vanguard

As Robinhood and Schwab roll out AI agents and assistants, a new survey finds advisors still edge out chatbots in terms of client trust.

Which technology providers stood out in 2026?
Which technology providers stood out in 2026?

See which platforms and providers earned 5-Star recognition this year

Advisor moves: $1.3B advisor team joins Wells Fargo FiNet practice in Ohio
Advisor moves: $1.3B advisor team joins Wells Fargo FiNet practice in Ohio

Meanwhile, a multigenerational Cambridge team has hopped to LPL in Michigan, and Cetera's run of Commonwealth recruitment continues in New Jersey.

Clients fear outliving savings as AI and longevity upend retirement math
Clients fear outliving savings as AI and longevity upend retirement math

TIAA survey finds 53% of Americans worry about running out of money, as AI and medical advances scramble retirement income planning.

Morgan Stanley advisor with $1B pedigree joins upstate New York RIA
Morgan Stanley advisor with $1B pedigree joins upstate New York RIA

Two wirehouse veterans choose advisor-owned model as independents target ultra-high-net-worth clients beyond portfolio management.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains