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 joy of life is partly in the strange and unexpected. Retrieved 8 June He claimed that he was hired only because investors had instructed the company to recruit more working-class employees. Retrieved 19 July The momentous nature of recent advances in shale oil and gas extraction and America’s acceptance of the unpleasantness of debt and funr price restructuring looks to us as if it is creating yet another historic turning point.

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Hugh Hendry

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

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Eclectiva volatility killed Jesse. We are time investors,” Hendry said. 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.

On China “There is a near consensus that China will supplant America this decade. By using this site, you agree to the Terms of Use and Privacy Policy.

Eclectica occupies an area outside the accepted belief system. Instead, my weapons are irony and paradox. Retrieved from ” https: Misbehaviour is all about curiosity, how you invoke and think about change, which is very necessary in the management of money. Hendry once said to an interviewer: 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.

This is largely because not much has happened to change our views. Hendry has been referred to as “the most high-profile Scot” in the hedge fund sector. Back then the relevant fixes were around the gold standard.

Hugh Hendry Letter and Views

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. He began to attract attention when his fund achieved a 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 212 themselves as a stand-alone fund manager.

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The strongest looking economies can sometimes prove the most vulnerable. His father worked as a lorry driver and he was the first member of his family to go to university. Can I tell you about the real world? Home” [ permanent dead link ]Eclectica Asset Management website. You will never see us pursue a homegrown idea when it lette to the detriment of the prevailing trend,” he said. Wait until Chinese growth has unmistakably faltered. Perhaps they just try too hard. In Hendry joined the prestigious Edinburgh investment management firm, Baillie Gifford.

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. This page was last edited on 11 Novemberat It is the constant exclamation “Who would have thought it?

People” [ permanent dead link ]Eclectica Asset Management website.