What’s that saying? “When the facts change, I change my mind?”Barton Biggs, the head of Traxxis Partners was uber bullish in May, hoping for 15-20% gains, then he said he was slashing his stock holdings in early July, saying he’d ‘taken basically all of it out in the U.S..
Now, he’s back in the bull camp.
“I’ve definitely changed my mind to the degree of risk out there,” Biggs said in a radio interview with Tom Keene on Bloomberg Surveillance. “Economic data around the world in the last 10 days to two weeks has turned more positive. It has exceeded forecasts almost without exception. The odds of the world slumping into a significant slowdown has diminished.
“The environment is fairly decent right now and there are opportunities,” said Biggs, whose fund gained almost three times the industry average last year, according to data compiled by Bloomberg and Chicago-based Hedge Fund Research Inc. “You are where you are and it’s a new day.”
Facts these days must be doing backflips. But sure, he’s doing well this year.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.