Hugh Hendry Is So Intimidating, Nobody Will Publicly Disagree With Him Anymore
by ilene - July 20th, 2010 3:15 am
Hugh Hendry Is So Intimidating, Nobody Will Publicly Disagree With Him Anymore

Courtesy of Joe Weisenthal at Clusterstock
It’s well known that uber-bearish hedge fund manager Hugh Hendry is a gifted, silver-tongued orator who can make mince meat out of his debating rivals.
Apparently nobody wants to disagree with him publicly, or even privately anymore.
The Eclictica manager is profiled in tomorrow’s NYT about how he’s a brilliant contrarian, though he doesn’t come off as THAT contrarian. For example, he’s bearish on China and Obama.
This part is amusing, however:
Mr. Hendry’s outspokenness has won him both fans and detractors.
Marc Faber, the money manager known as Doctor Doom for his bearish views, calls Mr. Hendry “a deep thinker.”
“He has strong views and expresses them, not to get publicity but because he has a great understanding of the markets,” Mr. Faber says.
Some London investors are less charitable. Two declined to comment on Mr. Hendry, saying they did not want to “get into a fight” with him.
So… we know that some in London don’t like him, but two won’t comment because they don’t want a fight. Guess that means no more Hendry debates.
See also:
Hugh Hendry: Soros Is A Socialist, The Euro Is Doomed And Everyone’s Shorting The Wrong Continent
Hugh Hendry Busts Out Tolstoy, TS Eliot, And Buchan To Win An Argument At Hedge Fund Conference
Hugh Hendry’s Slams Economist Jeffrey Sachs: I Would Recommend You Stop Going Skiing And Panic
Hugh Hendry’s Slams Economist Jeffrey Sachs: I Would Recommend You Stop Going Skiing And Panic
by ilene - May 27th, 2010 1:20 pm
Hugh Hendry’s Slams Economist Jeffrey Sachs: I Would Recommend You Stop Going Skiing And Panic
Courtesy of Courtney Comstock of Clusterstock/Business Insider
The European banking system is in crisis, says Hendry.
"I would recommend you panic."
The hedge fund manager of Eclectica Management went on BBC Newsnight last night to play pessimist against Jeffrey Sachs, an economist from Columbia University.
Of course the two get into a fight. It’s awesome.
At first Hendry is talking quietly and his manner is worryingly subdued but wait just a minute. He starts going after Sachs at 2:38.
"When you bring on a professor and when you bring on a politician, they are unaccountable. Jeffrey’s wrong, you know what? He’ll survive and tenure. I’m wrong, I go bankrupt."
Then Jeffrey defends himself a little bit, says no one should jump to the conclusion that all is lost, and Hendry literally jumps on him. (4:50)
"I don’t know," says Hendry, "because, was Jeffrey skiing two months ago? I was working, Gillian (Tett, who was also on the show) was working. So we can tell you about the real world."
It’s so offensive that the host has to jump in and say, "Now that’s just a low blow."
(Meanwhile, Gillian Tett is loving this, grinning from ear to ear.)
Then Jeffrey, who doesn’t want to let some other guy fight his fight for him, warns Hendry:
"Please watch your language, it’s just ridiculous. Watch your rhetoric a little bit."
Seriously, says Hendry. It’s time to worry. Panic.
"Banks today are refusing to lend to each other. Bank share prices are collapsing. We have no ability to gauge the credit-worthiness of the banking system."
"I say, let’s purge this system of its rottenness," recommends Hendry. "Let’s take on a recession. It’s going to be tough. People are going to lose their jobs."
"The banking sector is responsible for gross folly," he says. The solution is just, "Don’t pay them. Don’t reward folly."
"We can spread this over 20 years or we can get rid of it over 3 years… You make a mistake, you pay for it."
Of course remember that Hendry is shorting the crap out of Greece and the European banking crisis. He’s a big proponent of speculation and shorting, so he hates bailouts and would love massive failure.