ECLECTICA FUND LETTER APRIL 2012 PDF

Hugh Hendry Letter and Views. After two On the Asset Management. “I meet a lot The Eclectica Fund, April Hugh Hendry After two years of silence, Hugh Hendry is back and still at his best with a new investment and shareholder letter. The Eclectica Fund, April , Hugh Hendry. In a letter to clients, Hendry repudiated his past bearishness on equities, In the Eclectica Fund gained percent after fees, versus only The HFRI Macro index suffered negative returns in , and Odey, lost nearly 20 percent in April alone when he was caught out by a rally in.

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The strongest looking economies can sometimes prove the most vulnerable. Wat legter more it is not necessarily the high volatility that is so daunting but rather the great oscillations from high to low that keep wrong fooring investors. The central bank will require a full blown crisis before it engages in all out financial anarchy. His father worked as a lorry driver and he was the first member of his family to go to university.

Retrieved 13 June It is the constant exclamation “Who would have thought it?

Hugh Hendry Full Eclectica Letter on China’s Impending Collapse

Not one buddy, not one phone call, not one instant message. But volatility killed Jesse. Can I tell you about the real world? Views Read Edit View history. Hendry has been referred to as “the most high-profile Scot” in the hedge fund sector. The joy of life is partly in the strange and unexpected.

Hugh Hendry predicts crisis will spread to Asia

This page was last edited on 11 Novemberat Hendry was born in GlasgowScotland, in and graduated from Strathclyde University in with a BA in economics and finance.

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We do not believe this. I cannot be reached by telephone.

On an episode of the BBC ‘s Newsnight programme aired on 9 AprilApgil began his response to comments by the Nobel Prize—winning economist Joseph Stiglitz on the financial position of Greece by saying, “Erm, hello. After two years of silence, Hugh Hendry is back and still at his best with a new investment and shareholder letter.

Hugh Hendry predicts crisis will spread to Asia | Reuters

We still lettter the global economy as grtesquely distorted by the presence of fixed exchange rates, the unraveling of which is creating financial anarchy, just at it did in the s and s. Eclectica eclecitca an area outside the accepted belief system. All articles with dead external links Articles with dead external links from November Articles with permanently dead external links Articles with dead external links from November Use dmy dates from February EngvarB from February Hugh Hendry eeclectica March is the founding partner and, at various times, the chief investment officer, chief executive officer and chief portfolio manager of Eclectica Asset Management.

In Hendry joined the prestigious Edinburgh investment management firm, Baillie Gifford. Retrieved 8 June A game plan is needed for all contingencies. This is largely because not much has happened to change our views. We are time investors,” Hendry said.

We are more bullish on US growth than most. You see, in a balance sheet recession volatility becomes pathological and one needs to be prepared.

The momentous nature of recent advances in shale oil and gas extraction and America’s acceptance of the unpleasantness of debt and labour price restructuring looks to us as if it is creating yet another historic turning point. He claimed that he was hired only because investors had instructed the company to recruit more working-class employees.

Retrieved 19 July Retrieved from ” https: Instead, my weapons are irony and paradox. Misbehaviour is all about curiosity, how you invoke and think about change, which is very necessary in the management of money. Despite his reputation as a contrarian legter, Hendry explained to the Financial Times in July that his approach continued to be based in taking advantage of market momentum. Hugh Hendry Letter and Views.

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However, we also think that it will end in Asia. Back then the relevant letteer were around the gold standard. I suspect that I am one of the few CIOs who does not maitain daily correspondence with investment bankers and their specialist hedge fund sales teams.

From Wikipedia, the free encyclopedia. It is not a question of respect, it is just that I prefer not to engage in their perpetual dialogue of determining where the “flow” eclrctica. Hendry once said to an interviewer: In a downturn, the debtor nation mitigates the economic shortfall by importing less.

Eclectica Asset Management was founded in [9] when Hendry and his colleague Simon Batten purchased the management contract of the Eclectica Fund from Ecelctica to establish themselves as a stand-alone fund manager. Hendry has become known in the United Kingdom for his outspoken commentary on the financial crisis. On China “There is a near consensus that China eclecgica supplant America this decade. I mainatin that the central bank will only seek to destroy the value of the currency after the next leg down in the struggle for corporate profitability that we are currently witnessing.

Perhaps they legter try too hard. At the LSE Alternative Investments Conference induring a discussion with Steven Drobny, Hendry joked that his clients have banned him from further media appearances.