21 Sept 2010 BBC Hardtalk interviews Hugh Hendry, CEO of hedge fund Eclectica Asset management. (Presenter) You are a risk-taker at a time when regulators are trying to de-risk financial markets. Does that make life difficult for you? (Hugh Hendry) Yes it does. And by implication it makes life difficult for everyone. And risk is used commonly and I don’t know if it’s fully understood. Is risk truth? Is what I do the pursuit of truth? And therefore have we reached a point in society where the truth is unpalatable? (Presenter) Another way of putting it is that it is a form of gambling or betting? (Hugh Hendry) Well I think the objection is the lack of symmetry. It’s when it goes the other way and it evokes the notion of a subsidy or a bailout. I think that is what rankles in the mind. And that’s what is causing this much needed debate. What we’ve seen in the last 3 years that is not capitalism. I promise you my risk-taking is not underwritten by the public purse. I guess I am drawing a distinction between the banking community and the hedge fund community. (Presenter) You make a lot of your money by taking a negative view, by ruthlessly exposing what you see as the overvaluation of certain assets, or currencies, or even national economies. And that makes you enemies doesn’t it? (Hugh Hendry) (Laughs) I’m kind of gasping for air. If only I was ruthless I tell you… I get something right, well done me. I get something wrong I get the consequences. I’ve capitalised upon my …
Betting Systems, Betting on Profit
January 13th, 2012 at 9:29 pm
This guy has a great perspective!
January 13th, 2012 at 9:40 pm
@theH0UNDSofD00M – That depends on whether you are an arsonist as well as a better.
January 13th, 2012 at 9:54 pm
@theH0UNDSofD00M
You’ve made a valid point. CDS is a flawed insurance product as it increases your desire to destroy the very thing somebody else wishes to protect. The same argument could be made to a degree regarding short-selling. However to be fair Mr Hendry has been critical on short-selling. See the video “Hugh Hendry – on deflation and short-selling” elsewhere on this channel. (I’ll update that video in a minute).
Could you please try to cut down on the language. Thanks.
January 13th, 2012 at 10:24 pm
@theH0UNDSofD00M I think the chap is a brilliant market analyst, followed him for about 11 years
January 13th, 2012 at 10:45 pm
@optionsupdate AHAHAHAHAHA , what a wanker! Would you like to suck is cock??? fuckin hell, you don’t have any self respect, do you lad?
January 13th, 2012 at 10:59 pm
Hey Hendry, how would you like if I bet that your house is going to be on fire in the next year? Do you think that would increase the risk of your lovely house to go up in flames? That would be a shame, hey?!?
January 13th, 2012 at 11:41 pm
Hugh should have told this moronic self-righteous idiot that ALL business is risk-taking. There is no economy without it.
Looks like Europe has become completely unhinged from even basic realities.
January 14th, 2012 at 12:04 am
Whereas the government can take everything you own, there may be a handful of private entrepreneurs who can play the same game in reverse. These are the people who are the true outperformers. That’s not to say they can consistently do it year after year. But they do deserve recognition.
January 14th, 2012 at 12:17 am
Hendry is god, awesome intellect