Diary of a Hedgehog Biggs' Final Words on the Markets

The late Barton Biggs was as familiar a figure in the investment world as John Bogle, Warren Buffett, George Soros, or Mario Gabelli. He spent thirty years as a senior partner at Morgan Stanley, during which time he formed Morgan Stanley's #1-ranked research department, built its investment management business, was chairman of the investment management firm, and then became the firm's leading global strategist. After Morgan Stanley merged with Dean Witter in 1996, Biggs was a member of the five-man executive committee that ran the firm. In 2003, Biggs left Morgan Stanley and, with two other partners, formed Traxis Partners, a multibillion-dollar hedge fund. Biggs was named by Institutional Investor magazine to its "All-America Research Team" ten times, spoke frequently at forums around the globe, and appeared on CNBC and other programs on more than 300 occasions.

Introduction

Mid-2010

FDR’s Fiscal Policy Redux

Staying Close to the Shore

Stay Long but Watch the Ticks

This Is No Time To Get Wobbly, George!

Make No Mistake: More QE Is Big Stuff

The Best and the Brightest Are Still Licking Their Wounds

Nobody Can See His Own Backswing

Fire and Ice

Miss at Least One Meeting a Day

Stick to Your Guns

Stage Two of a Cyclical Bull Market

The First Word in Analyst is Anal

2011

Be Long Term but Watch the Ticks

Shake Well Before Using

Fancy Dinner and Candlelight

Stevie Cohen Tells a Good Story

The Canary in the Coal Mine?

Still Hanging In There

The Market is a Discounting Mechanism

The Madness of Crowds

Earthquakes and Equities

The Riddle of Japan

Start Buying the Dips

Babbling Away

Swensen and Yale

The “Atlantic Crisis”

Turn off Your Bloomberg and Tune Out the Babel

The New Face of China

Harvesting the “Grapes of our own Wrath”

No More Water, the Fire Next Time

The Valley of Death

Lest We Forget

“If you’re going through hell, keep going!”

Begin Thinking about Buying

Agnostic Optimist

My Bet is that the Rally Is Still a Work in Process

The Truth Will Set You Free but Chardonnay Isn’t Bad Either

Investing in a World Lit Only By Fire

Private Equity

Another Tsunami

2012

A Tough Call

No Bull

The Elderly Kid Goes to a Tech Conference

Positive Change at the Margin Continues

Simpson Bowles Forever

Shake Well Before Using

This Business Is Getting More Complicated

Conclusion

The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.

The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.