Hugh Hendry Slip Another Month On China; EM Currency Shorts. Hugh Hendry’s Eclectica Absolute Macro Fund saw a tough September, failing to benefit from the rebounding markets that benefited most other hedge funds.
The fund lost 1.8% in September, reducing year to date return to -2.6%, according to returns from a monthly performance report seen by ValueWalk. The fund manages $276 million. Hugh Hendry loses on EM shorts Eclectica has short exposure in emerging markets including China, saw most losses in its shorts in emerging market currencies against the U.S. dollar which were down by 102 bps. Eclectica has shorts in Indian rupee, Brazilian real, South African rand, Mexican peso and South Korean won against the USD.
The fund also has exposure to Turkish indices which was a major factor in building up losses, as shorts in Turkish index futures lost 21 bps. Only two months of positive returns EAMF1309.pdf by ValueWalk.com. “the death spiral of mercantilism”: A perspective on the current global macro environment. April 2012 TEF Commentary. Hugh Hendry, "God is a genius because he is a sloth" Chinese Economy 2009. Hugh Hendry - Shares Some Contrarian Views. Ecclectica. If you have read and understood these conditions of use you may click the 'I agree' button to proceed.
By doing so you acknowledge that you understand the conditions of use and agree to abide by them. Information on this Site The information on this site is issued by Eclectica Asset Management LLP (EAM), which is regulated by the Financial Conduct Authority (FCA). The information on this site is directed only at persons or entities in any jurisdiction or country where such access to information contained herein and use thereof is not contrary to local law or regulation. In particular, the information on this site is not directed at any person in the United States and this site is not intended to be used by any person in the United States, with the exception of those persons who are existing investors in any fund managed by EAM.
Sales Restrictions No Advice Risk Factors Past performance may not be repeated and should not be seen as a guide to future performance. Accuracy of Information. Hugh Hendry: "I Have No Idea Where The Stock Market Is Going," But... - Market Shadows. Hugh Hendry: "I Have No Idea Where The Stock Market Is Going To But "I Am Long Gold And Short The S&P" Courtesy of ZeroHedge.
View original post here. One of the best presentations at this year's Economist Buttonwood gathering (which is still being live-streamed here), was, as usually happens, Hugh Hendry. The contrarian Scotsman, who describes his style as one where he "positions ourselves outside the accepted belief system", managed to say in 15 minutes what takes most pundits hours, and that's without the appendices, charts, long-winded essays, and graphs. Because when it comes to conveying ideas, simplicity always wins, and few are as good at speaking in simple, logical terms, as Hugh Hendry. Some of the higlights from the one-time self-professed goldbug's speech: "10-12 years ago I became a gold bug and launched my hedge fund in the end of 2002, and in 2003 we made 50%. Hendry says that $3 trillion in Fed monetization has not unleashed inflation.
Full clip below Did you like this?