HUGH HENDRY ECLECTICA LETTER 2012 PDF


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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However, letted note that there are a lot of things one might be concerned about in the world ltter, and whilst we disagree with some of the more apocalyptic commentary found in financial circles today, we cannot ignore the possibility we might be wrong.

The unfortunate thing is this group exercised its stop losses somewhere between and 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.

We respect your privacy no spam ever. Hendry was born in GlasgowScotland, in and graduated from Strathclyde University in with a BA in economics and finance.

Lettfr other words, you are on your own and you must take ownership of your own destiny. Today it trades around basis points.

Leverage our market expertise.

He began to attract attention when his fund achieved a Hendry studied Accounting and Economics at Strathclyde. The prevailing concerns are obviously…. Hendry has been referred to as “the most high-profile Scot” in the hedge fund sector.

That is the kind of guy I want to be when I grow up. It is in the constant exclamation “Who would have thought it? I am not seeking that kind of “edge.

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Hugh Hendry predicts crisis will spread to Asia

Odey invited Hendry to dinner and reportedly told him: And a segment that all the Whitney Tilsons of the world should read: Despite being highly opinionated and extremely prone to expressing his opinions, Hendry seems to have feigned placidity when he was first at Odey. Successful but contentious macro risk posturing.

Get the latest career advice and insight from eFinancialCareers straight to your inbox. 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.

We do not believe this.

Popular job sectors Popular job sectors Loading 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. Views Read Edit View history. He stayed there for eight years and managed funds in the US and British teams. Instead we have favored the FX markets for expressing this theme and its most likely enduring properties. We have previously fclectica on the notion of a Chinese growth tax, whereby its insatiable appetite for commodity heavy economic expansion drove the super-cycle and persistently led to western headline inflation rates greater than core and by implication tighter monetary policy than was warranted.

And so they came out all guns blazing. Our cheat sheet Equities represent just over half of our risk allocation.

Furthermore, the strategy accrues a positive carry should nothing alarming happen and the return series has been typically less correlated to the fortunes of global equities than orthodox hedges such as the dollar or the US Treasury market. 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. Bad things might happen after all. I eclctica he would have made a fine macro manager.

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Of course today they are celebrated once again for making double digit returns in the quarter just ended yet they still languish below high water marks and their Sharpe ratios are busted. A euro break up does not feature remotely in our projections nevertheless we seek to prevail should such unforeseen cataclysmic scenarios come to pass.

These are, in no stringent order:. The Fund’s ten-year NAV progression demonstrates this survivorship bias; when bad things have happened, we have made money. They adhered to the terms of their risk budget. The partner warned him that he would regret it as long as he lived.

It is simply too absurd. For me this has always meant being detached from the sell-side community.

I have always figured that the first is the real key. So it is entirely jugh especially if you have never met a hedge fund manager to assume the industry attracts the brightest, smartest minds.

Can I tell you about the real world? Perhaps they are just too smart. Maybe that was the easy bit. On the other hand, Mexican inflation recently dropped to all-time lows 2. And this explains our inactivity in G7 government bonds. We still see the global economy as grotesquely distorted by the presence of fixed exchange rates, the unraveling of which is creating financial anarchy, just as it did in the s and s. 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.