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Hugh Hendry Eclectica

15 Feb, 5 tweets, 2 min read

@RanaForoohar

@RanaForoohar I feel moved to reach out to you directly following your article in today’s FT. I’ve invested a huge amount of my life to reading this newspaper. The FT means something. It has standards to uphold. I recognise that criticism can be viewed as petty and lazy...

But I feel no one is left to protect my sensibilities. I’m seeking well thought out, robust and contentious thought pieces. This most certainly was not.

Public criticism sucks; trust me I know...So let me reverse tack. I congratulate you for having the passion and desire to commit something to print. I think the problem rests more with those you cite and who seem to hold sway over your opinions.

So in the spirit of the game i offer you the chance of going head-to-head with me on a live twitter podcast at a day and time of your choosing. What have you got to lose? I’m just a washed-up former macro hedge fund manager living it up on a tropical island 🏴‍☠️

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More from @hendry_hugh

Hugh Hendry Eclectica

@hendry_hugh

14 Feb

Gold and silver have been total dogs these last six months. BTC has just outperformed. I attribute this to Wil Self and his Quantity Theory of Insanity.

That there is, after all, a finite set of molecules in the universe of alternative assets - the last hold out for those seeking diversification.

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Hugh Hendry Eclectica

@hendry_hugh

10 Feb

@michaelxpettis

The moral of the story? Never kiss the ass of a Belgian...@michaelxpettis

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Hugh Hendry Eclectica

@hendry_hugh

10 Feb

You want to be a macro hedge fund trader? Imagine the hypothetical. You’re taken to a psychiatric ward. There‘s a girl, sitting naked on the floor. She’s rocking. She’s not spoken to anyone for months. What do you do..?

RD Laing a rockstar psychiatrist popular in the psychedelic late 60s went into the room, stripped off naked and started rocking with her. Within 20 mins they were chatting. Ronnie would have made an awesome macro trader...

Read 7 tweets

Hugh Hendry Eclectica

@hendry_hugh

8 Feb

Flashback - me in China - 2008. China has 5% world’s land, 20% world’s population, > 15% world GDP and 70% world’s high speed rail system. Farm land with a ticket to go faster than necessary. The US has locomotives... think of two Chinas doing exactly the same thing.

Only difference is accounting. In one China if you invest $100m in a project that is only worth $20m you write the project down to $20m. In line with what other countries do. In the other China, you invest $100m in a project that’s only worth $20m and you carry it at $100m.

In accounting terms the first China will show a much lower GDP and a lower GDP growth rate than the second. We live in the second China. The GDP number they report is much higher than the GDP number of the first.

Read 5 tweets

Hugh Hendry Eclectica

@hendry_hugh

6 Feb

A lot of you are invested in uranium. I commend you. I wish I was.

Uranium is the rockstar of commodities. It doesn't mess around - bull and bear markets are of epic proportions.

The 1970s peak of $42 slumped to $10 where it stayed a long time before our generation's exuberance, and the helping hand of necessity, took it to $80 - something better than great sex ?? you made 50x your money in some of the spec junior miners...50x!!

Read 17 tweets

Hugh Hendry Eclectica

@hendry_hugh

30 Jan

Quite you say? I’ll give you quite. I don’t do cheesy music. When I’m pounding the sand burning off the tequila and the virus I’m listening to Mr Motivator by IDLES...here’s what I hear

Repeat after me
I am I
And I intend to go go go
Like Conor McGregor with a samurai sword and roller blades Like a hedge funder declaring he’s morally and intellectually bankrupt on his sunny Caribbean island
How d’you like them clichés???

Now turning to end of week stuff. Don’t stop the game and don’t protect #hedgefundelite. Buying crappy co.s and bidding them to preposterous valuations is almost DaDaism and the kind of nihilism you find around fin de siècles or at least in The Joker movie.

Read 14 tweets

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