Hedge fund guru Barton Biggs is expecting a few weeks’ worth of weakness for the stock market, thanks to lingering trouble in Europe and a slowing economy in the U.S.
“I don’t think that this correction we’re in is quite over yet,” Biggs recently said on Bloomberg Radio’s “The Hays Advantage” with Kathleen Hays. “I just don’t think it’s gone far enough. Europe is still a shipwreck, and the U.S. economy has drifted into this soft patch.”
Biggs says he’s taken short positions on the German and French stock markets, but says he doesn’t think the U.S. will have a double-dip recession. He’s heavily invested in technology stocks, and also owns oil service and industrial machinery stocks. And he’s maintaining his positions in China, he adds.