The Life and Legacy of Barton Biggs in Finance

Barton Biggs was a renowned American investment manager and author who made a lasting impact on the finance world. He was born in 1928.

Biggs began his career in finance at Merrill Lynch, where he worked for 18 years and rose through the ranks to become a managing director. He was known for his expertise in global markets and his ability to predict market trends.

Biggs' most notable achievement was his time as the chief global strategist at Morgan Stanley, where he developed and implemented a successful investment strategy that emphasized diversification and risk management.

Barton Biggs joined E. F. Hutton in 1961 with a starting salary of $7,200 a year.

He co-founded Fairfield Partners in 1965, which returned a remarkable 133 percent during his eight-year tenure, significantly outperforming the S&P 500's 19 percent return.

Biggs joined Morgan Stanley as a managing director and general partner in May 1973, and established Morgan Stanley Investment Management in 1975.

He served on the bank's board until 1996 and retired from the company in 2003 at age 70, citing that his job had evolved into managing people rather than formulating strategy.

Biggs then went on to found hedge fund Traxis Partners, where he remained until his death, reportedly enjoying the intellectual challenge of running a fund.

Barton Biggs had a knack for predicting market trends. He correctly predicted the bull market in U.S. stocks that began in 1982.

Biggs also accurately forecast the decline of Japanese stocks in 1989, when the Nikkei 225 stock index plummeted by more than 77 percent. He was, however, overly optimistic about Mexico just before the peso crashed in 1994.

In 2003, Biggs predicted a significant rise in U.S. stocks, which indeed climbed as much as 88 percent, and emerging markets, which more than quadrupled.

Biggs had predicted the bull market in U.S. stocks that began in 1982.

He was also on the mark in 1989, predicting a bearish market in Japanese stocks, which indeed plummeted more than 77 percent.

On the other hand, he made a mistake with Mexico in 1994, being too bullish just before the peso crashed.

Biggs' prediction in March 2003 that U.S. stocks would rise up to 50 percent was surprisingly accurate, with the market climbing as much as 88 percent.

The 2007-2008 financial crisis was a major wake-up call for many investors, including Barton Biggs, who was caught off guard by the downturn.

Barton Biggs's Traxis Fund LP lost 10 percent in the first half of 2008 due to his bets on U.S. shares.

As recently as May 2008, Biggs predicted that the U.S. economy would grow in the second half of 2008, the Standard & Poor's 500 Index would climb to a record, and commodity prices would retreat by as much as 30 percent.

However, Biggs was able to bounce back and correctly called the bottom in U.S. stocks in March 2009, resulting in a remarkable return of three times the industry average for Traxis's flagship fund that year.

Barton Biggs was a renowned American journalist and editor who made a lasting impact on the financial media landscape. He served as the editor of the Wall Street Journal's Money & Investing section from 1988 to 2001.

Biggs was a pioneer in the field of financial journalism, and his work continues to influence the industry today. He wrote several books on investing and the stock market, including "The Stock Market of the Future" in 1997.

Biggs was a strong advocate for individual investors and believed that they should take control of their financial decisions. He encouraged readers to think for themselves and not rely solely on professional advice.

Biggs' approach to investing was centered around the idea of owning a diversified portfolio of stocks and bonds. He believed that this approach would provide investors with a stable source of returns over the long-term.

Barton Biggs was a renowned investor and the chief global strategist at Morgan Stanley from 1991 to 2003. He was known for his ability to predict market trends and make shrewd investment decisions.

Biggs was a pioneer in the field of hedge funds, and his fund, the Global Strategy Fund, was one of the first to offer a global investment strategy to individual investors. It was launched in 1981 and quickly gained a reputation for its innovative approach to investing.

The fund's performance was impressive, with a 10-year annual return of 14.4% during the 1980s, significantly outperforming the S&P 500. Biggs' ability to identify and invest in emerging markets was a key factor in the fund's success.

Biggs' investment philosophy was centered around the idea of "macroeconomics", which involves analyzing broad economic trends and their impact on markets. He believed that understanding these trends was crucial to making informed investment decisions.

Biggs was also known for his contrarian approach to investing, often taking positions that were opposite to the market consensus. This approach allowed him to capitalize on market inefficiencies and generate returns for his investors.