Hugh Hendry Full Eclectica Letter on China’s Impending Collapse. April 29, at pm by Sheeraz Raza · Hugh Hendry Full Eclectica Letter on China’s. Hugh Hendry is a fund manager at Eclectica Asset Management. He has become prominent in the United Kingdom for his commentary on the. Eclectica Asset Management CEO, Hugh Hendry, talks to the media at the However, we also think it will end in Asia,” he said in the letter.

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The Fund’s ten-year NAV progression demonstrates this survivorship bias; when bad things have happened, we have made money.

For me this has always meant being detached from the sell-side community. By using this site, you agree to the Terms of Use and Privacy Policy.

Hugh Hendry Full Eclectica Letter on China’s Impending Collapse

It’s bad luck to communicate with genius,” he told Investor’s Chronicle. Maybe that was the easy bit.

Who would’a thunk it: Recent events come on the back of a period of profound Mexican peso weakness; indeed since the end of November the peso has been one of the worst performing currencies in the world. In an interview five years agoHendry says lette was pretty unemployable in London after leaving Credit Suisse: We eclwctica time investors,” Hendry said. Not one buddy, not one phone call, not one instant message.

That is perhaps a long way of saying that existentialism is alive and well in the 21st century. Essentially, therefore, it seems that you need a recession to appear to make money in US fixed income markets. Funds are neglecting their hard portfolio ltter limits. Hugh Hendry’s Eclectica hedge fund is no more.

And for several years we have studiously avoided investing in companies exposed to industrial commodities and have been circumspect in sizing equity shorts mindful of the torturous upside price volatility short squeezes that has made monetization of the narrative almost impossible.


I suspect that I am one of the few CIOs who does not maintain daily correspondence with investment bankers and their specialist hedge fund sales teams. We are cautiously constructive risk assets through positions in equities, mostly in Europe and Japan. As we see it, the opportunities to benefit from such a position are twofold. Despite his reputation as a contrarianHendry explained to the Financial Times in July that his approach continued to be based in taking advantage of market momentum.

To some, the country has gone from a credible reforming sovereign play to one caught up in a Asian crisis like scenario where the level of the peso determines the tightness of monetary policy with the domestic economy punished by the consequences.

That is the kind of guy I want to be when I grow up. That is to say, I fear the financial world is in danger of harvesting a monoculture of fund returns that could prove less than robust should the global economy suffer another deflationary reversal You will never see us pursue a homegrown idea when it is to the detriment of the prevailing trend,” ,etter said.

When he first joined, he told The Hedge Fund Journal that he spent 12 months ‘paying his dues’, ‘keeping quiet’ and ‘soaking up what was going on. Click here to manage your subscriptions. The question now is just how we can make money in the tough business of global macro investing this year.

Typically these currencies offer attractive positive carry.

Hugh Hendry – Wikipedia

This seems an important insight when considering the likely path of the US economy. We will let readers combs through the narrative that shapes Hendry’s most recent outlook, although one chart worth pointing out is The Eclectica boss’ visual summary of the “New Economic Order” which presents precisely the tenuous relationship between the Fed and the PBOC we have been decrying for so long, and which so many commentators ooh, ooh, the PBOC is easing any minute now The oil price collapse that we discussed in the last monthly newsletter and the inevitability of significant swathes of bankruptcies.


This is largely because not much has happened to change our views. 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 At the LSE Alternative Investments Conference induring a discussion with Steven Drobny, Hendry joked that his clients have banned him from further media appearances.

Luckily, however, he met hedge fund manage r Crispen Odey. Eclectica Asset Management was founded in [9] when Hendry and his colleague Simon Batten purchased the management contract of the Eclectica Fund from Odey to establish themselves as a stand-alone fund manager.

Hugh Hendry

It’s and Deutsche Bank would like everyone to calm down. What if the hyper but short lived shrew like performance of previous US expansions has eltter into the slothful giant tortoise that can live for years?

Popular job sectors Popular job sectors Loading Here’s what you didn’t know about the UK’s most colourful ex-hedge fund manager. In the letter the most surprising insight from the perpetual contrarian is his almost predictable contrary view of the dominant investing meme at the moment. God is dead, life is absurd and there are no eclectiica.

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