Remember “Wish I was Short”?
Remember this interview and video with Barton Biggs, not even a month ago. In Biblical terms, the world was almost ending according to Biggs, and he wished he was ultrashort. Less than a month later, the SPX is upp 100 handles from that day. This market is sure confusing all pundits.From Bloomberg,
Bets that stocks will gain make up 20 percent of Traxis Partners LLC’s holdings, down from as much as 85 percent six months ago, as the threat of a recession makes equities too risky, according to founderBarton Biggs.
“I wish I was minus 20,” Biggs said during an interview today on Bloomberg Television’s “Street Smart” with Matt Miller and Carol Massar. “I wish I was zero. I don’t think any place is a place to invest.”
Video below.
Weekend Recap Reading (while Rome is burning).
Meanwhile Rome is burning, live cam here.
Weekend reading by MoreLivers.
EURO CRISIS
Goldman Sachs – Europe: Close to the Edge – ZH
Summary of the report and a pdf-link to full document
You shall not default, the ECB commands it – alphaville / FT
“Frankly though, we’re amazed if the ECB thinks it has the suasion power to tell sovereign debtors what to do. And by linking the euro explicitly to a no-default rule, we would argue that they only make it more likely that sovereigns will leave the euro altogether in order to default.”
German Politicians Call for Changes to EU Treaties – Spiegel
“If Merkel is really serious about backing a fundamental reform of the EU, she has a lot of convincing to do.” Last October she stressed the importance of treaty changes and said the proposals should be submitted by March 2011.
Latest comments