Diary of a Hedgehog Biggs' Final Words on the Markets

Author: Barton Biggs
Publisher: John Wiley & Sons
ISBN: 9781118299999
Published In: October 2012
Format: Hardback , 213 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

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Barton Biggs was a Wall Street legend, trusted by investors around the globe. Now, in his last book, Biggs offers savvy insights into the innermost workings of the markets—today and for the years to come. Packed with keen insights, global experiences, and opinionated stances on investing, Diary of a Hedgehog: Biggs’ Final Words on the Markets explores the ongoing downward economic spiral and where it's headed, to help readers keep their money safe and secure.

Offering a unique look at the current state of the markets, why they continue to be depressed, and where we can go from here, Diary of a Hedgehog: Biggs’ Final Words on the Markets is the ultimate guide to how investors—and the general public—should be handling their finances.

The last book from investment legend Barton Biggs
Offers investors and business readers of all levels of experience new insights into the current economic crisis
Presents news ideas for readers looking to make the most of their money in the face of ongoing market turbulence

Insightful and creative, Diary of a Hedgehog: Biggs’ Final Words on the Markets is the ultimate resource for anyone who wants to understand what's up with the market, where it's headed, and how to respond.

Acknowledgments xv

Introduction xvii

Mid-2010

FDR’s Fiscal Policy Redux 3

Staying Close to the Shore 11

Stay Long but Watch the Ticks 15

This Is No Time to Get Wobbly, George! 18

Make No Mistake: More QE Is Big Stuff 21

The Best and the Brightest Are Still Licking Their Wounds 25

Nobody Can See His Own Backswing 29

Fire and Ice 31

Miss at Least One Meeting a Day 38

Stick to Your Guns 43

Stage Two of a Cyclical Bull Market 45

The First Word in Analyst Is Anal 49

2011

Be Long Term but Watch the Ticks 57

Shake Well Before Using 63

Fancy Dinner and Candlelight 68

Stevie Cohen Tells a Good Story 71

The Canary in the Coal Mine? 73

Still Hanging in There 79

The Market Is a Discounting Mechanism 82

The Madness of Crowds 86

Earthquakes and Equities 89

The Riddle of Japan 93

Start Buying the Dips 101

Babbling Away 104

Swensen and Yale 107

The “Atlantic Crisis” 113

Turn Off Your Bloomberg and Tune Out the Babel 116

The New Face of China 119

Harvesting the “Grapes of Our Own Wrath” 125

No More Water, the Fire Next Time 128

The Valley of Death 130

Lest We Forget 133

“If You’re Going through Hell, Keep Going!” 136

Begin Thinking about Buying 140

Agnostic Optimist 144

My Bet Is that the Rally Is Still a Work in Process 148

The Truth Will Set You Free but Chardonnay Isn’t Bad Either 152

Investing in a World Lit Only by Fire 155

Private Equity 158

Another Tsunami 168

2012

A Tough Call 175

No Bull 179

The Elderly Kid Goes to a Tech Conference 185

Positive Change at the Margin Continues 190

Simpson Bowles Forever 194

Shake Well Before Using 198

This Business Is Getting More Complicated 201

Conclusion 207

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.