Diary of a Hedgehog: Biggs' Final Words on the Markets
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.
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
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
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
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.
In Diary of a Hedgehog: Biggs' Final Words on the Markets, the author shares his insights into why the markets remain at this low level and offers his theories for the future. Drawn from his actual diary of recent events in this time of economic turbulence—written in the heat of the moment, not retroactively—this book addresses the downward economic spiral we have landed in within the last year and reveals Biggs' gut feelings on where we are headed.
"Understanding the effect of emotion on your actions has never been more important than it is now," wrote Biggs. "In the midst of this great financial and economic crisis that grips the world, central banks are printing money in one form or another. This makes our investment world even more prone to bubbles and panics than it has been in the past. Either plague can kill you." But while offering dire warnings such as this, Biggs also provides readers with key advice on how to protect their assets and survive even the worst of times.
With keen insight, global experience, and informed opinions on investing, this book showcases Biggs at his best, offering readers the inside scoop into what's happening and where we go from here.
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Diary of a Hedgehog: Biggs' Final Words on the Markets (US $29.95)
-and- A Hedge Fund Tale of Reach and Grasp: Or What's a Heaven For (US $24.95)
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