Aug 9, 2011

Barton Biggs bails out in August 2011

I've taken some risk off, and I hate to do it, I think it's probably the wrong thing to be doing, but I'm a fiduciary to a certain extent, and I've got to protect my capital.

I don't understand now what's going on. I suspect that we're now into a high-frequency trading, momentum-driven cascading downturn. And I want to get out of the way of it.

~Barton Biggs, managing partner and co-founder, Traxis Partners, Bloomberg TV, August 8, 2011

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