How convienent of Mike to leave out some very important parts to that article and only cut and paste what he agrees with…In the article Barton Biggs also says the he firmly believe the odds are 1 in 10 for this doomsday scenario to play out…%10 this might happen…Then he also says to make LOTS OF MONEY…How do we do that if we shouldnt buy real estate,we shouldnt invest in what is surely a downward spiraling out control stock market,we are too busy farming and growing our food,stockpiling ammuntion for the barbarians to come,living in rural farm country…Which one is it??
True, he did hedge his prediction of the coming anarchy. His odds: 1 in 10.
The truth is Insiders in the “Happy Conspiracy” elite will follow Biggs’ ultra-simple investment strategy: Make massive amounts of money fast using short-term strategies, spout lip service about the “public good.” But always act in your own self-interests first,
Which one is it Barton?..Start a farm or make “massive amounts of money”…Odds at 1 in 10 as Barton is directly quoted as saying I will choose the other %90 and stick around and make “massive amounts of money”…
For investors, the great stock market rebound of 2009 has been a welcome salve after the brutal one-two punch of the housing and equity market meltdowns. The stock market has come back so strongly since bottoming out in early March that some bears see signs of another bubble forming. But there’s a case to be made that there’s still more upside in the stock market than pessimists might think–and it’s entirely possible the Dow will hit the 12,000 mark in 2010. That sounds like a stretch, considering the index’s 60 percent rise over the past nine months. But to get to 12,000 from the 10,500 range the index traded in around Dec. 15, the Dow would need to advance by slightly more than 14 percent over the next year. History suggests it’s a reasonable possibility: over the past 50 years, the one-year return on the DJIA has exceeded that mark 21 times. As NEWSWEEK’s Daniel Gross has written, economists have tended to underestimate the recovery so far; money manager (and NEWSWEEK contributor) Barton Biggs has written that he sees more upside than the conventional wisdom, too. As Americans continue to rebuild their nest eggs, there’s good reason to think they’re right.
Barton loves to play both sides of the fence…He makes cases for the end of the world coming and then he predicts the stock market to continue to climb HIGHER…You listen to this clown?
More Barton Biggs advice and how that panned out…
That’s not to say he’s always been right. People are still talking about the time he pronounced himself “maximum bullish” on China after a brief tour of the country three years ago — just before Asia began a two-year slide. Biggs’s philosophy might be best defined by one word: entrenchment. Once he visits or hears about a country, he locks in on it like a laser. He’s been following remote countries no one else has been watching (like Myanmar and Vietnam) for years. A true value investor at heart, Biggs likes the less-fashionable stock or country, especially ones with immense long-term investment potential (e.g., China, India or Russia). The problem with international stock markets is that you also have to keep your eye on the dollar, making this type of investment a little more complicated than a domestic buy. But Biggs is unrelenting when it comes to emerging markets, and his intensity of commitment can’t be approached by any other SmartMoney.com pundit.
His long-term bullish view on emerging markets, however, came back to haunt him in Mexico, when the peso crashed in value at the end of 1994 after he’d proclaimed his bullishness for a country that he freely admits “I just can’t get.” But his standing was revived when he correctly told his clients to invest in Japan right before the country rebounded from two years of economic stagnation in 1995. Overall, however, he missed the boat on emerging markets in 1995, saying they would rise 18% when they actually performed rather poorly, especially when you put them up against the returns of the U.S. market.
In 1996, Biggs was bearish on U.S. stocks and bullish on emerging markets (surprise!). While his big calls in places like Russia (up 112% through October) and China (up 67%) were paying off, he was amiss domestically on stocks and the Comex gold price. His subpar performance over the past few years placed him near the bottom of our pundit pack. But don’t just look at Biggs’s recent track record. In January 1996, traders couldn’t figure out why India funds were suddenly so hot. “Barton Biggs is there, having a look around,” said one trader. "Do you need to know more?