From Permabull To Bear in 48 Hours

Posted by ZeroHedge

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June 30 (Bloomberg):

Biggs said bullish bets make up about 70 percent of his investments and isn’t selling because he expects the S&P 500 to finish the year 10 percent to 15 percent above its level now. He favors property developers, oil service companies and technology suppliers in the U.S. and emerging-market equities.

July 2 (Bloomberg):

Biggs, 77, said yesterday he cut bullish bets by about half since June 29, when they made up 70 percent of his fund.

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