Barton Biggs, 70, a top-rated market watcher, will now run a new firm called Traxis Partners, which will manage a Morgan Stanley hedge fund portfolio, Reuters reported. Biggs will also serve as an outside Morgan Stanley consultant.
Throughout his career, Biggs was known for his prescient calls and market-moving reports on Asian markets, particularly in the early 1990s. He was also one of the few bears during the dot-com boom that eventually fizzled in 2000. Biggs was Morgan Stanley’s first research director and formed its investment management group in 1975.Narayan Ramachandran, a managing director in Morgan Stanley’s investment management group, will be acting head of the global asset allocation group formerly headed by Biggs.