OK, what's your diagnosis of my metaphysical disease?
You know the story of the little boy pretending to be an explorer, then a lion, then a pirate, then simply himself...a little boy??
Not content with that he transports himself into the future where he’s a grown up. Later still he sees himself as an old man. The kid gets startled and comes to... but then he remembers that it had all been a game of make believe from the very beginning. You get it..?
We take on different roles - for a while back then i was a global macro hedge fund manager, or was I? Was I good or bad? Was I your competition or just someone charged with an increasingly narrow and unsatisfying objective? I don't think we'll ever truly know...
We’re taught to pretend that we’re not pretending and then we’re taught to forget that we’re only pretending that we’re not pretending...so tell me this ? Who’s pretending? Me or you..? And what are we pretending to be, to do?
And gold, stock bubbles, treasury yields, recovery, inflation, covid? We all play a game of pretend, of make believe...Me? Simple. I'm just that little boy living in never Neverland. God bless R.D Laing The art of the pretend is a good springboard to managing other peoples' money
The contract I made with my mind is that it's free to do anything it cares to do. And so everything's in motion. To some of you it's an incoherent and over stimulated cesspool to others...well you reached this far. I'm infuriating, frustrating and ultimately disappointing.
I've made it my fetish. Now tell me something about you...hey, do you like tequila? Got to start somewhere? But loosen up, I dare you. Consider other imagined realities, it might be the making of you.

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More from @hendry_hugh

8 Dec
Do not adjust your mind - the fault is in reality...
oh boy am I excited to discover R.D. Laing...why did it take me so long? Ronny was a redoubtable intellect from my birth city and rocked the world of psychoanalysis in the late sixties and was at the centre of the counter culture in the US. He's my new hero.
Understanding madness, existential philosophy, mysticism and poetry - who needs the first call from an investment bank?? The edge can be found elsewhere in abundant supply if only you are fearless...
Read 8 tweets
4 Dec
Talk about a bad trade - going up against the Mother Teresa of macro fin twit on @RealVision I'm talking about @LynAldenContact Maybe its the London weather, I miss St Barts already, but what a bunch of whiners over on the comments page at RV. Get real guys, this is macro!
Let me explain the set-up. We wanted to offer a glimpse of how the real world operates. Hedge fund managers responsible for billions of $s are typically alpha types, time pressed and egocentric. Presenting your best idea to that bunch is a tortuous task - a swim or drown affair.
Lyn is a disciplined investment analyst. She's cultivated a cautious and scholarly reputation. Good on her! Her challenge was to present to me as though I was one of those big swinging managers. I played it for real. I played it hard. I don't crave your love; I'm a sociopath...
Read 12 tweets
2 Dec
No, that's not my Christmas Tree...
If monkeys pick bottoms how do you pass your day? Me? i speak with great minds like Raoul Pal. He's kindly allowed me to share our latest RealVision conversation on my youtube channel.
Read 7 tweets
27 Nov
1 Let's lance this boil re @LukeGromen claim that global CBs stopped sterilising reckless US deficits 6 years ago.
2 Until then we had to suffer the China, like Japan decades before, and Russia before that in the 1970s, had solved the Rubik's cube and was going to rule the world.
3 Bankers, the eurodollar invisible but hyper-active type. They really bought this BS hook line and sinker. They couldn't lend fast enough to all things China. Which is to say there was a massive credit expansion. That money was printed out of thin air.
Read 24 tweets
19 Nov
Hey @RealVision crew! Cycles turn. Rewind to 1981, Fed rates hit 20pc in March. Inflation was 10.9pc. Everyone knew policy was incredibly tight. Inflation was falling. What happened? Bonds got slaughtered. US T yields finally peaked, prices bottomed, round year end at 15.8pc.
Image
Everyone knew this was nuts. But like monkeys, too many bottoms had been picked...and the psychology was forboding. That’s what great turning points do to you. You find yourself at war with your own imagination.
Read 10 tweets
17 Nov
I try and answer your questions relating to my recent twitter outburst regarding the role of negative interest rates. I explain how the external trading value of the dollar is trapped.
How the US has lost its exorbitant privilege..yes, it can still print money, should its private sector banks be willing to do so. However it can no longer lower the external value of the dollar vis-a-vis its trading partners. The mercantilists have gained the upper-hand.
I try and explain how negative US dollar rates might represent a valid and rational attempt to abolish the US from such serfdom
buzzsprout.com/1017043/6415015
Read 4 tweets

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