[ by Howard Haykin and Melanie Gretchen ] Barton M. Biggs, a renowned market strategist for Morgan Stanley, passed away on Saturday at the age of 79, according to a bank spokesman.  After co-founding Morgan Stanley's research department, Mr. Biggs came to prominence by successfully predicting movements in the U.S. stock market, and particularly in the technology sector, when it began showing signs of a bubble - i.e., meaning it was over bought and ready for a correction. Biggs spent over 4 decades at Morgan Stanley, where he honed his insights into global market trends.  As the firm's global market strategist, he would write essays on the rise of bull markets, that ultimately were distributed around Wall Street.  He also authored 3  books. In 2003, however, he left Morgan Stanley to co-found his own firm, hedge fund Traxis Partners, while remaining an adviser to his old firm. Mr. Biggs Early Days. In 1965, after graduating from Yale, Mr. Biggs kicked off his career by co-founding Fairfield Partners, one of the very first hedge funds.  In 1973, he  joined Morgan Stanley as a General Partner and Managing Director.  There, he established the firm's research department and served as its director and global market strategist.  In 1975, he founded Morgan Stanley Investment Management, serving as its chairman until 2003. He also served as a company Directors until 1996, and as chairman of the Riversville Foundation, that funds scholarships for disadvantaged students.

"Barton left an indelible mark on our business, our culture and our shared notion of leadership at Morgan Stanley. He was known as an independent thinker, colorful writer and one of the pioneers of emerging markets investing, and our Firm benefited from his vision." -- James Gorman, MS CEO and chairman.

Barton Biggs died after a short illness. He is survived by a son, 2 daughters, and 9 grandchildren.  RIP. [Dealbook, 7/16/12]