Posts Tagged ‘Powerlunch’
Hugh Hendry: Commodities Stocks to Remain Weak?
Tuesday, December 16th, 2008
Hugh Hendry, the eloquent and outspoken CIO, Eclectica Asset Management, in an appearance on CNBC’s PowerLunch (Dec. 10) shares his thoughts on agriculture commodities stocks such as Potash, and Syngenta.
Among other things, Hendry makes a forthright confession that he was wrong earlier this year to make the call to be long commodities stocks. He continues on to say that when he realized he was wrong, he promptly sold them too. Hendry runs a long-only Agriculture fund, as well as his primary hedge fund, and has been controversial in some of his choices to oppose his funds’ mandates at times in favour of cash or government securities.
His main quid pro quo is his caution that although commodity stocks could revisit highs, we could be waiting as many as 10 years for it. Its a must watch.
In a 7-minute segment earlier the same day, Hendry discussed the idea that as the financial crisis deepens, civil liberties are curtailed by governments eager to put an end to falls in share prices and economies. This is an insightful discussion, a must-watch.
“The government has gone to war, it is an economic war. And in a war the government takes a larger and larger role in the society. That’s fine, you have to accept that,” Hendry said. “What is concerning is the erosion of civil liberties.”
The ban on short-selling financial securities in the UK is one example of erosion of civil liberties, another is a statement made in parliament last week which opens the way to silencing the press during financial crises.
The Treasury Select Committee said that it will look at the role of the media in financial stability and whether financial journalists “should operate under any form of reporting restrictions during banking crises”.
“We’re only a year into this and suddenly, already, our liberties are being brought back, brought in,” Hendry said.
Tags: 10 Years, Agriculture Commodities, Array, Asset Management, Caution, Choices, Civil Liberties, Cnbc, Commodity Stocks, Confession, Economic War, Erosion, Favour, Financial Crises, Financial Crisis, Financial Journalists, Financial Securities, Financial Stability, government securities, Hedge Fund, Hugh Hendry, Mandates, Minute Segment, Potash, Powerlunch, Role Of The Media, Share Prices, Syngenta, Treasury Select Committee
Posted in Commodities, Markets | No Comments »
Hugh Hendry:10-year Treasury Signals Deflation
Wednesday, August 6th, 2008
We’ve recently become huge fans of anything that Hugh Hendry, the cutting and brash CIO, Eclectica Asset Management, has to say. On August 1, 2008, Hendry appears on CNBC’s powerlunch europe opposite Lloyd’s Nick Hodson. Each takes turns discussing the state of the market and opportunities, and if you watch at least half way through you’ll get to see what it looks like when someone gets harpooned for what seems to be sycophantic commentary.
Hendry is a regular on CNBC, known mostly for his incisive and blunt force commentary. Besides being entertaining, Hendry is enlightening and speaks to the heart of what is wrong in the market, and what to do in this confusing, tumultuous time.
Among other things said in this segment, Hendry points out that investors in 10-year treasuries would be up 15% YTD vs. -20% for stocks, and that the 10-year US treasury is signalling deflation while everyone else seems to still be hung up on inflation. On this front, he would rather own bonds than gold.
This is must see commentary:
Click on image to watch segment.
Source: CNBC, August 1, 2008 - Hugh Hendry, PowerLunch Europe
Tags: 10 Year Treasuries, August 1, Blunt Force, Bonds, Cnbc, Eclectica, Eclectica Asset Management, Euro, Europe, Gold, Hodson, Hugh Hendry, inflation, Investors, Lloyd, Powerlunch, risk, Segment, Signals, Stocks, Tumultuous Time, Us Treasury, Video, Ytd
Posted in Bonds, Gold, Markets | 2 Comments »
