Sep 6, 2008

Barton Biggs: U.S. stocks "close to a bottom"

[The U.S. stock market is] pretty close to a bottom [and may mount a] powerful [rally].

This is not the end of the world. There's a possibility out there that with oil down as much as it is, we're going to get a push in consumer spending.

~ Barton Biggs, hedge-fund manager, "Biggs Says U.S. Stocks 'Close to Bottom,' May Rally," Bloomberg Television, September 5, 2008, by Eric Martin and Kathleen Hays

(Biggs, a former Morgan Stanley strategist, now runs the hedge fund Traxis Partners LLC, which is down about 10 percent this year through Aug. 31. )

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