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ECLECTICA FUND LETTER APRIL 2012 PDF

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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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We are time investors,” Hendry said. You see, in a balance sheet recession volatility becomes pathological and one needs to be prepared. Retrieved 19 July Hendry was born in GlasgowScotland, in and graduated from Strathclyde University in lettwr a BA in economics and finance.

You will never see us pursue a homegrown idea when it is to the detriment of the prevailing trend,” he said. On China “There is a near consensus that China will supplant America this decade.

Hugh Hendry

We are more bullish on US growth than most. Hendry has become known in the United Kingdom for his outspoken commentary on the financial crisis. Fumd 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.

By using this site, you agree to letyer Terms of Use and Privacy Policy. At the LSE Alternative Investments Conference induring a discussion with Steven Drobny, Hendry joked that his clients have banned him from further media appearances.

Eclectica occupies an area outside the accepted belief system. Retrieved from ” https: In Hendry joined the prestigious Edinburgh investment management firm, Baillie Gifford. Can Hugh Hendry teach us to love hedge funds? On an episode of the BBC ‘s Newsnight programme aired on 9 AprilHendry began his response sclectica comments by the Nobel Prize—winning economist Joseph Stiglitz on the financial position of Greece by saying, “Erm, hello.

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This rivals the eclectiva of the Ecletcica. The momentous nature ecleftica 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.

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.

Hendry once said to an interviewer: Back then the relevant fixes were around the gold standard. He began to attract attention when his fund achieved a We do not believe this. Can I tell you about the real leyter Home” [ permanent dead link ]Eclectica Asset Management website. After two years of silence, Hugh Hendry is back and still at his best with a new investment and shareholder letter.

Retrieved 8 June I am not seeking that kind of “edge”. This page was last edited on 11 Novemberat A game plan is needed for all contingencies.

In a downturn, the debtor nation mitigates the economic shortfall by importing less. Retrieved 13 June 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 It is the constant exclamation “Who would have thought it?

Hugh Hendry Letter and Views.

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Hendry has been referred to as “the most high-profile Scot” in the hedge fund sector. I cannot be eclecticz by telephone. 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.

Not one buddy, not one phone call, not one instant message. Wat is more it is not necessarily the high volatility that is so daunting but rather the great oscillations from ecelctica to low that keep wrong fooring investors.

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Hugh Hendry born March is the founding partner and, at various times, the chief investment officer, chief executive aprl and chief portfolio manager of Eclectica Asset Management. From Wikipedia, the free encyclopedia. The strongest looking economies can sometimes prove the most vulnerable.

Wait until Chinese growth has unmistakably faltered. 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.

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.

It is not a question of respect, it is eclecticq that I prefer not to engage in their perpetual dialogue of determining where the “flow” is. His father worked as a lorry driver and he was the first member of his family to go to university.

Perhaps they just try too hard. Views Read Edit View history. God is dead, life is absurd and there are no rules. The central bank will require a full blown crisis before it engages in all zpril financial anarchy. Instead, my weapons are irony and paradox. This is largely because not much has happened to change our views. Misbehaviour is 212 about curiosity, how you invoke and think about change, which is very necessary in the management of money.