Traxis Partners’ Biggs Unloads About Half Its Stock Holdings

By: Dan Weil

Barton Biggs, who manages $1.4 billion for hedge fund Traxis Partners, dumped about 50 percent of its stock investments in recent days.

He told Bloomberg he’s worried that the economy will fall back as governments around the world withdraw their stimulus too early

On June 29, before Biggs’ sales, bullish stock bets accounted for about 70 percent of the fund’s portfolio.

“I can change my mind very quickly,” he said. “I’m not wildly bearish, but I don’t want to have a lot of risk at this point. I just want to have less exposure at a time like this.” (more)