He was never a very good investor — but he was one of my favorite hedge fund talking heads, back in the old CNBC Europe days of 2008-2012, when it was hosted by Beccy Barr and others. I used to stay up all through the night watching Geoff Cutmore preside over the broadcast, interviewing all sorts of well mannered Brits, like Bob Parker.
I can honestly say it was the best financial TV I’ve ever seen.
Hugh Hendry shut down his fund recently, after returning -9.8% in 2017. Redemptions were rampant, reducing money under management to just $30 million. Summarizing his collapse, Hendry complained the markets were wrong and ‘it wasn’t supposed to be like this.’ Tell me about it.
We’ve all been there and I sympathize with Hendry, having gone through my own trials and tribulations, ups and downs in a post QE/POMO world that has perverted the ancient laws of finance.
In a brief, yet entertaining, 10 minute clip — Grant Williams interview Hendry to discuss his fall.
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Clearly, Hendry did not know how to be wrong until he was right. Had he found a way (martingale) to stay in the market, he could’ve been right this year.
I guess he knew the old adage that The Market Can Remain Irrational Longer Than You Can Remain Solvent.
I think meeting Hendry would be a classic case of how you should never meet your idols. He always sounds like the smartest guy in the room, but I have grown to feel like he was always just full of shit.
When he shut down his fund he complained about how he was unable to own equities because he was mandated to be uncorrelated with equities. That’s a perfectly fine thing to complain about if it we’re true. Totally reasonable reason to fail in this environment. Except there are interviews of him on YouTube saying he was long equity index futures a few years back.
I remember when he started getting bullish on equities and said he was wrong, the redmptions started. Investors preferred his bearish view based on the non correlation.
Very true. If he stayed a shit talking bear he’d still be in business.
Asset gathering>>>asset management
Back in 2009, Hendry was pointing to Japan as an example as to how far governments/cbs could go in manipulating markets and in preventing honest price discovery. He was right then …it’s a shame he didn’t profit from his own insight.
Hendry”s a pole smoker
He’s living in St. Barts in January….and you’re not.
Big fucking deal.
it’s an absolutely motherfucking deal. or else why are you reading these pages. oh btw you’re the idiot here. i’ll rephrase for you : your the idiot. there you go asshole.
Hendry fucking rule.
It is you’re – you fucking imbecile. Hugh is a big fag just like you.