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Barton Biggs, the storied hedge fund manager who runs Traxis Partners, recently had an interesting encounter recently over lunch with a Saudi businessman who explained to him the real motivations behind Saudi Arabia's ramp up in oil production and why oil prices will likely continue to fall as a result for an extended period of time. It's all part of a plan hatched by the Saudi royal family, according to Biggs, who relays this conversation in a note just published by Itaú BBA. Biggs says he asked the man what his outlook for Saudi Arabia was in the medium and...

Uber Bull Barton Biggs Throws In The Towel, Slashes Stock Holdings Vincent Fernando, CFA Jul. 3, 2010, 3:07 PM Traxis Partners hedge fund manager Barton Biggs used to be a pretty vocal stock market bull, even as recently as early May. Back then he said, “I’m betting the next move in the U.S. market is going to be up 15 to 20 percent,” and "I would just point out that the world is having a strong economic recovery, and so is Europe.” His view has changed dramatically since. Explaining that he can change his mind 'very quickly', he's significantly paired...