QotD: Barton Biggs — I Want to Go Home

Fun day on the markets today, with the only semi-stiched world coming apart at the seams for a host of reasons, not least of which is simple distrust of … everything financial. As a result, we got  whoosh downward, the likes of which we haven’t seen in some time. It elicited quotes like this one, from Barton Biggs:

I do not know where the bottom is. I am basically 50% net long. I covered a little bit yesterday. I am now 60% net long and I wish I was not. I wish I was 10% or 20% net long.

More here.

Comments

  1. j'adoube says:

    I can't believethat numbnuts contrarian indicators like Biggs are out there managing billions of dollars. What a travesty.

  2. j'adoube says:

    >>I am basically 50% net long. I covered a little bit yesterday. I am now 60% net long and I wish I was not.<<

    Yeah, I want to give my money to a guy who doesn't even know what his position is.

    Pathetic.

  3. By now, he wants to go home and crawl under the bed. I can't imagine being on TV three times a week to talk your book helps you keep nimble when a trade goes against you.