ECLECTICA FUND LETTER APRIL 2012 PDF

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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I mainatin that the central bank will only seek to destroy the value of the currency after letterr next leg down in the struggle for corporate profitability that we are currently witnessing. 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.

Hugh Hendry – Wikipedia

But volatility funx Jesse. A game plan is needed for all contingencies. Hendry has been referred to as “the most high-profile Scot” in the hedge fund sector.

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: The joy of life is partly in the strange and unexpected. Back then the relevant fixes were around the gold standard. 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.

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Retrieved 8 June Can Hugh Hendry teach us to love hedge funds?

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. God is dead, life is absurd and there are no rules. I cannot be reached by telephone.

His father worked as a lorry driver and he was the first member of his family to go to university. Retrieved from ” https: We do not believe this.

However, we also think that it will end in Asia. 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. People” [ permanent dead link ]Eclectica Asset Management website. The strongest looking economies can sometimes prove the most vulnerable.

We are time investors,” Hendry said. 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.

Eclectica occupies an area outside the accepted belief system. Not one buddy, not one phone call, not one instant message.

Hugh Hendry

He began to attract attention when his fund achieved a This rivals the size of the U. 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. You will never see us pursue a homegrown idea when it is to the detriment of the prevailing trend,” he said.

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It is the constant exclamation “Who would have thought it? I am not seeking that kind of “edge”. Home” [ permanent dead link ]Eclectica Asset Management website. He claimed that ecledtica was hired only because investors had instructed the company to recruit more working-class employees. Perhaps they just try too hard.

Instead, my weapons are irony and paradox. You see, in a balance sheet recession volatility becomes pathological and one needs to be prepared. Hendry has become known in the United Kingdom for his outspoken commentary on the financial crisis. In a downturn, the debtor nation mitigates the economic shortfall by importing less.

Wait until Chinese growth has unmistakably faltered. The central bank will require a full blown crisis before it engages in all out financial anarchy. This page was last edited on 11 Novemberat This is largely because not much has happened fnud change our views. We are more bullish on US growth than most. 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.