Hugh Hendry Investments

Below you can read what Hugh Hendry of

Electica Asset Management

Has Been Buying
"In the next 12 months, we'll see further pathological swings in investor sentiment. Despite my reservations, I'm modestly long equity-market futures, some nonindustrial commodities, and some bullish fixed-income positions. We are very bullish agricultural commodities and agricultural equities, and hold a global basket of businesses—with interests ranging from fertilizer to farm equipment."

He has also positioned his fund by betting on Japan’s corporate debt problems by buying protection on steel names and businesses sensitive to the yen. He's also bought credit protection on the shipping industry in Japan such as Mitsui OSK.

Additionally, Hendry mentioned he's got protection on companies levered to the global economy such as Sumitomo and Marubeni.

Hugh Hendry is a fund manager at Eclectica Asset Management. He has become prominent in the United Kingdom for his commentary on the financial crisis. Hendry has been referred to as "the most high-profile Scot in the controversial (Hedge Fund) sector."

Hugh Hendry Quantitative Easing Cycle

1. FED QE
2. Rejects Globalization
3. Rejects China Gaming FX
4. Fed Seeks to Create Domestic Price Inflation Overseas
5. Fed Seeks to Revalue China et al FX Real v Nominal Prices
6. But China Imposes Tighter Credit Controls to Offset Fed Stimulus
7. And Euro Debtor Countries Raise Rates Despite High Unemployment a la 1931
8. And so EM Growth Slows
9. And with a six month lag US / Germany Slows
10. But Zero Lower Bound Restricts Monetary Policy
11. And High Sovereign Debt Restricts Additional Fiscal Stimulus
12. FED do another QE

Hugh Hendry is a fund manager at Eclectica Asset Management. He has become prominent in the United Kingdom for his commentary on the financial crisis. Hendry has been referred to as "the most high-profile Scot in the controversial (Hedge Fund) sector."

Hugh Hendry 2012 Investments

In the next 12 months, we'll see further pathological swings in investor sentiment. Despite my reservations, I'm modestly long equity-market futures, some non-industrial commodities, and some bullish fixed-income positions. We are very bullish agricultural commodities and agricultural equities, and hold a global basket of businesses—with interests ranging from fertilizer to farm equipment.

Hugh Hendry is a fund manager at Eclectica Asset Management. He has become prominent in the United Kingdom for his commentary on the financial crisis. Hendry has been referred to as "the most high-profile Scot in the controversial (Hedge Fund) sector."