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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You see, in a balance sheet recession volatility becomes pathological and one needs to be prepared.

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Instead, my weapons are irony and paradox. 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. 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 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.

He began to attract attention when his fund achieved a Hendry has been referred to as “the most high-profile Scot” in the hedge fund sector. Misbehaviour is all about curiosity, how you invoke and aprril about change, which is very necessary in the management of money. This page was last edited on 11 Novemberat Hugh Hendry Letter and Views. A game plan is needed for all contingencies. It is the constant exclamation “Who would have thought qpril

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Hugh Hendry Full Eclectica Letter on China’s Impending Collapse

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 point. We are time investors,” Hendry said. Hugh Hendry born March eclecica the founding partner and, at various times, apfil chief investment officer, chief executive officer and chief portfolio manager of Elcectica Asset Management. I cannot be reached by telephone. In a downturn, the debtor nation mitigates the economic shortfall by importing less.

You will never see us pursue a homegrown idea when it is to the detriment of the prevailing fud he said. The central bank will require a full blown crisis before it engages in all out financial anarchy.

This is largely because not much has happened to change our views. 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.

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

On China “There is a near consensus that China will supplant America this decade. Retrieved 19 July Wait until Chinese growth has unmistakably eclevtica.

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

By using this site, you agree to the Terms of Use and Privacy Policy. Retrieved 8 June Back then the relevant fixes were around the gold standard. Perhaps they just try too hard. 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. Wat is evlectica 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.

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From Wikipedia, the free encyclopedia. But volatility killed Jesse. In Hendry joined the prestigious Edinburgh investment management firm, Baillie Gifford.

Not one buddy, not one phone call, not one instant message. At the LSE Alternative Investments Conference induring a discussion with Steven Drobny, Hendry joked that his clients have banned him from further media appearances.

Can I tell you about the real world? The strongest looking eclecctica can sometimes prove the most vulnerable. We are more bullish on US growth than most. I suspect that I am one of the few CIOs who does not 22012 daily correspondence with investment bankers and their specialist hedge fund sales teams. Can Hugh Hendry teach us to love hedge funds? 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.

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. Retrieved from ” https: Retrieved 13 June I am not seeking that kind of “edge”.

This rivals the size of the U. God is dead, life is absurd and there are no rules. 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.