Biggs Says U.S. Stocks May Rise 20% as Crisis Eases

U.S. stocks could jump as much as 20 percent, led by technology companies, as the global economy rebounds from Europe’s debt crisis, said Barton Biggs.

“I’m betting the next move in the U.S. market is going to be up 15 to 20 percent,” Biggs, who runs New York-based hedge fund Traxis Partners LP and whose flagship fund returned three times the industry average last year, said in a Bloomberg Television interview. “I would just point out that the world is having a strong economic recovery, and so is Europe.”

Biggs recommended buying U.S. stocks last year when benchmark indexes sank to the lowest levels since the 1990s. He didn’t give a timeframe or refer to a specific measure. The Standard & Poor’s 500 Index rose 0.3 percent to 1,163.02 at 12:06 p.m. in New York, rebounding from a 1 percent loss. (more)