Barton Biggs, chief strategist at Morgan Stanley, has declared that there is no hurry to buy equities in the wake of the terrorist attacks on the US, as chief investment officers in Europe sit on their hands.
In a newly published research paper, Biggs warns that the attack on the World Trade Center could have a lasting effect on the world as further events develop: "It's hard to believe that 19 crazies could change the course of history...The risk premium for equities and maybe for all long term assets is going to rise." He comments come as investment chiefs in Europe remain largely undecided on their next move, following the slide in share prices which has developed in recent days.
