Hugh Hendry, the excentric CIO of the Eclectica fund, is known for being very vocal about his views…notably back in ’08 when he was pounding the table much earlier than most about a coming global financial crisis (and was up over 30% that year).
He’s been relatively quiet since early last year but has just released his 1st quarter commentary which is always worth reading.
“We are, as a result, long the debt saddled west and short the vastly over vaunted and over owned BRICs. There is a near consensus that China will supplant America this decade. We do not believe this. We are more bullish on US growth than most.
“This makes us bearish on most Asian stocks, bearish on industrial commodity prices, interested in some US stocks, a seller of high variance equities and deeply concerned that Japan could become the focal point of the next global leg down.”