Our take: Hugh Hendry, the founder of the hedge fund Eclectica, has many things to say about investing and what the future will hold for the market. In this article by Saul Griffith, Hendry makes a bleak prophecy about what is coming and that "bad things are going to happen."
Hugh Hendry, the founder of $800 million hedge fund Eclectica, is a serious proponent of doom and gloom according to a report in the Financial Times.
Once very much in Britains limelight as a media-savvy and prominent fund manager, of late he has chosen to maintain a low profile, ostensibly due to two reasons. The first, to avoid alarming his rich patrons who may not be able to reconcile his wise-cracking media personality with that of a high-performing hedge fund manager having custody of their precious millions. Secondly, Hendry had to agree to tone down his media presence as a precondition for having Paul Taylor on board as his chief executive in January 2011.
Accordingly, Hendry put on the backburner his one-man crusade to convince the public at large that financial speculators are not all bad, and in fact have a contributory role to play in a free economy. He remains a maverick investment officer who gives short shrift to the legions of investment bankers and their hedge fund sales forces. To quote Hendry: Not one buddy, not one phone call, not one instant message. I am not seeking that kind of edge. Eclectica occupies an area outside the accepted belief system.