Tags: Biggs | U.S. | Stocks | Rise

Biggs: U.S. Stocks Poised to Surge 15 Percent

Tuesday, 16 Mar 2010 08:53 AM

Contrarian investor Barton Biggs, managing partner at Traxis Partners LLC, expects stocks to soon jump.

“I think we’ve got a move of 10 to 15 percent in the next couple of months here in the U.S. and 15 to 20 percent n the emerging markets,” Biggs says.

“Earnings are coming in very strong and I think the U.S. and global economy are gaining momentum as we come into spring this year,” he recently told Bloomberg.

“I think there’s too much bearishness … everybody’s seeing bubbles everywhere. Maybe they’re going to be right (but) I think in the shorter run, things are going up,” Biggs says.

Biggs likes emerging market stocks now, especially China and India.

In the United States, he says that big-cap quality stocks are the cheapest part of the market.

He also thinks the “new normal” envisioned by Pimco co-chair Mohammed El Erian has been erroneously accepted as conventional wisdom, which he says is usually wrong.

“I don’t know what the environment’s going to be, but it’s not going to be the ‘new normal,’” he says.

The “new mix” is out to topple the “new normal” as the paradigm for U.S.'s economic future, Business Week reports.

The 5.9 percent annualized surge in fourth-quarter growth — the fastest since 2003 — was powered more by exports and business investment than the traditional drivers of consumption and housing.

This new mix of demand will boost the economy by 3.7 percent in 2010 and pave the way for 3.5 percent annual average increases thereafter, says Joseph Carson, an economist at AllianceBernstein.

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