Barton Biggs’ Doublespeak

Famous investor Barton Biggs was just interviewed on CNBC and asked about the European Debt Crisis that is currently underway. He first spoke to the tune that Europe was undervalued and severely oversold, but when asked if he would actually put his money where his mouth is…he plainly said, “No, way!”

Mr. Biggs said that it is clear that stocks are being puked up, but it would be more or less suicide for investors to try to catch the falling knife as of yet. Instead he said that investors should wait for the ECB to come in and restructure the debt and devalue to currency. At that point, and not one minute sooner, do you start to buy into overseas markets.

Barton Biggs is the author of such books as “Hedgehogging,” “Wealth, War, and Wisdom,” and “A Hedge Fund Tale of Reach and Grasp: Or What's a Heaven For.”