Hedge fund guru Barton Biggs says he’s cut back on his stock holdings, largely thanks to concerns about Europe — particularly Spain. Biggs also tells Bloomberg that the Federal Reserve’s seeming reluctance to perform further quantitative easing also has him less bullish. But Biggs says that while he’s looking for a 5% to 7% pullback in the short term, he sees stocks moving higher in the next few months with some good longer-term bullish factors in place.