29 May 2010

My New Favorite Hedge Fund Manager

Financial Economics 13 Comments

I saw some other videos with unpromising titles (like “Hendry says print money to fix slump”) but I don’t want to ruin it. Anyway this is pretty cool, I just wish I knew the context. (HT2 Ash Navabi)

13 Responses to “My New Favorite Hedge Fund Manager”

  1. Political Catechism says:

    Peter Schiff who?

  2. Arek says:

    Basically, the discussion was about bailing out Greece.

    The champagne socialist is Poul Rasmussen, President of the European Party of Socialists.

    That’s all I know.

  3. dc says:

    The interviewer is Paxman. Should be BBC2 Newsnight. Paxman is tough.

  4. Arek says:

    ‘Hello? Can I tell you about the real world?’

    Hendry vs Stiglitz


    • Ash Navabi says:

      Man, what was up with Stiglitz in that interview? He seemed very nervous. Hendry embarrasses again. Someone should get him and Schiff in a room together just to see what would happen.

  5. Ash Navabi says:

    Here is a discussion of the whole video. If you have access to a UK proxy (I don’t), you can supposedly watch the whole vid here: http://www.bbc.co.uk/iplayer/episode/b00rdynp/Newsnight_09_03_2010/

    The other guy is Poul Rasmussen, current president of the Party of European Socialists and former Prime Minister of Denmark.

    • Arek says:

      Nope, the vid’s gone.

      • Ash Navabi says:

        That’s too bad.

  6. Bob Murphy's Love Child says:

    People need to understand the role of the speculator. Hendry pwned them, but he should have made it more clear that he stands to make millions because he sees the disaster ahead, and for no other reason.

    Him and Schiff in the same room as Stiglitz would be amazing

    • Michael says:

      Just sayin, your name is hilarious =)

  7. Jeremy says:

    “When you bring on a professor and when you bring on a politician, they are unaccountable. If Jeffery’s wrong, he will survive in tenure. If I’m wrong, I go bankrupt. Who do you want to bet with?” HA!

    I’ve seen quite a bit of this guy over the last 2 years. He’s got some great one liners when he’s on T.V.

    Hendry has said his idol is Marc Faber. He was saying over a year ago that the Euro would reach parody with the dollar. It looks like that could happen now. His view is that Bernanke hasn’t created enough money to create run away inflation but ultimately the U.S. central bank will. More deflation first then runaway inflation is what he anticipates. He might be right. There could be more deleveraging when the second wave of foreclosures comes over the next 2 years. Then Bernanake will fire up the printing press again at which point it will be game over.

    He has said that a when a country becomes too over burdened with debt it can be difficult to create inflation and that monetary policy no longer works. See: Japan. He also made a pile of money betting against the housing bubble in 2008. He thinks at today’s prices agricultural commodities would be the best hedge against inflation and not gold at over $1,000 an ounce.

  8. Randy_Bobandy says:


    At around 2 minutes Hugh Hendry has an Austrian-esque insight into inter-temporal consumption. He claims world GDP was overstated due to borrowing, and since we were borrowing consumption from the future, nominal income had to fall at some point in the future. I wonder if he realizes the only way the entire world can borrow at the same time.

  9. Ash Navabi says:

    I did it. I found Hendry saying Malinvestment in October ’08. If you’re rushed for time, fastforward to about 3:00