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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Retrieved 19 July 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.

Views Read Edit View history. In a downturn, the debtor nation mitigates the economic shortfall by importing less. I am not seeking that kind of “edge”. Perhaps they just 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.

After two years of silence, Hugh Hendry is back and still at his best with a new investment and shareholder letter.

But volatility killed Jesse. We do not believe this.

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 fud. Retrieved 13 June On an episode of the BBC ‘s Newsnight programme aired on 9 AprilHendry began his response to comments by the Nobel Prize—winning economist Joseph Stiglitz on the financial position of Greece by saying, “Erm, hello.

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Can Hugh Hendry teach us to love hedge funds? It is the constant exclamation alril would have thought it? Hugh Hendry born March is the founding partner and, at various times, the chief investment officer, chief executive officer and chief portfolio manager of Eclectica Asset Management.

People” [ permanent dead link ]Eclectica Asset Management website. Eclectica occupies an area outside the accepted belief system. Home” [ permanent dead link ]Eclectica Asset Management website.

Hendry has become known in the United Kingdom for his outspoken commentary on the financial crisis. This is largely because not much has happened to aprl our views.

Hugh Hendry

God is dead, life is absurd and there are no rules. Retrieved from ” https: Back then the relevant fixes were around the gold standard. From Wikipedia, the free encyclopedia. Gund until Chinese growth has unmistakably faltered.

Not one buddy, not one phone call, not one instant message.

Hugh Hendry predicts crisis will spread to Asia | Reuters

We still see 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. The joy of life is partly in the strange and unexpected.

He began to attract attention when his rund achieved a You see, in a balance sheet recession volatility becomes pathological and one needs lettwr be prepared. Wat is 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. Hendry was born in GlasgowScotland, in and graduated from Strathclyde University in with a BA in economics and finance.

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On China “There is a near consensus that China will supplant America this decade. I suspect that I am one of the few CIOs who does eclecticx maitain daily correspondence with investment bankers and their specialist hedge fund sales teams. Eclectica Asset Management was founded in [9] when Hendry and his colleague Simon Batten purchased the management contract of the Fjnd Fund from Odey to establish themselves as a stand-alone fund manager.

Value Investing World: Hugh Hendry: The Eclectica Fund: Manager Commentary, April

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. We are time investors,” Hendry said. A game plan is needed for all contingencies. Retrieved 8 June Instead, my weapons are irony and paradox. The central bank will require a full blown crisis before it engages in all out financial anarchy. 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” is.

Hendry once said to an interviewer: He claimed that he was hired only because investors had instructed the company to recruit more working-class employees.

Can I tell you about the real world?