"Monkeys pick bottoms" Hugh Hendry defends shorting the USD

[Optional]

Quote from Debaser82:

He said short stocks and after he said it stocks had their biggest multi week rally since 1933.

Why can't he just admit he made a bad call?

Please show the quote where Hendry says "short stocks"...I can't remember seeing that.
Better yet, show me in his Eclectica Performance that he shorted stocks there.
who knows.

 

[Optional]

Quote from lolatBushites:

Looks like the fund was mostly cash and one large leveraged trade accounted for recent gains. Scary

Long bonds

 

[Debaser82]

Quote from Optional:

Please show the quote where Hendry says "short stocks"...I can't remember seeing that.
Better yet, show me in his Eclectica Performance that he shorted stocks there.
who knows.

March 11 09

Buying government bonds, shorting stocks and "can't buy enough dollars".

"I dare you to touch an equity today. Tell me you're making money on equities"

http://www.cnbc.com/id/29629997

 

[makloda]

The problem with your thesis is that he's been positioned like that since months -- before March. He didn't come out in March and proclaim "now is the perfect time to go all out short".

Net allocation of his fund, Feb 28 2009 (before the rally)

Net -11% (of NAV) equity short position. Big deal.

 

[Debaser82]

I'm not trying to diss Hugh Hendry, Makloda.

I'm sure he is very intelligent and a great market player as his trackrecord proves. Good for him.

Stll, gold outperformed his fund 100% last 10 years?

Imagine that.

Working 24/7 years in a row to try and create return on investment when he could have just bought some Kruggerrands and go to the beach instead.

 

[Daal]

Quote from Debaser82:


Stll, gold outperformed his fund 100% last 10 years?

Boy isn't getting rich so easy in hindsight

 

[therandbman]

Quote from Daal:

Boy isn't getting rich so easy in hindsight

Well said.

 

[makloda]

Quote from Debaser82:Stll, gold outperformed his fund 100% last 10 years?

Imagine that.

You're picking a 30 year bottom of a random asset class and then argue somebody didn't outperform that? Just when I thought I've heard it all.

 

[gangof4]

funny how the OP was wrong on all accounts in this thread title.

Hendry is kinda abrasive (not to me so much, but to many), but he's been spot on for a while and always has well constructed opinions. he's one of the few guests on cnbc or bloomberg asia that i keep the volume on for. he usually guest hosts on cnbc, so he's on for an hour or 2.

 

[Debaser82]

Quote from makloda:

You're picking a 30 year bottom of a random asset class and then argue somebody didn't outperform that? Just when I thought I've heard it all.

Look, you say it's stupid to diss Hugh Hendry cause he was short and stocks rallied for the next week.

I agree.

He is not giving short term investment advice and that's fine.

He is telling people his view on how to protect your build up wealth these next few years.

Deflationary shitstorm coming buy government bonds, the dollar and short everything else.


Let's see how that works out in the coming years.