ex-Morgan Stanley guru Barton Biggs gazes into the future and sees joy:“I think [stocks are] going to stabilise in this general area, and then we’re going to have a significant move to the upside,” Biggs, whose flagship fund returned three times the industry average last year, said in a Bloomberg Television interview.
“The market is very, very oversold, and I think we’re going to have a big pop to the upside some time in the next couple of days,” said Biggs. “I wouldn’t be surprised to see us go to a new recovery high, just to make everybody squirm.”…
“The European concerns are serious, and I take them seriously,” Biggs said. “I just don’t think that the worst is going to happen.”