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
Maybe, but I'd be surprised. We should have inflation first.
Nope, you were wrong G Robertson, Hugh was right.
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