Sunday, January 9, 2011

Eclectica's Hendry Turns Greece Profit Into China Failure Bet (Bloomberg Magazine)

Eclectica’s Hendry Turns Greece Profit Into China Failure
Hugh Hendry, founder of Eclectica Asset Management. Photographer: Tom Wagner/Bloomberg Markets via Bloomberg
Hugh Hendry is a man worried about the future. Although the hedge-fund manager beat more than 80 percent of his peer group rivals in 2010, Hendry laments that he’s part of an oppressed minority -- and likens the threat of hedge-fund regulation to the plight of the Roma migrants expelled fromFrance last summer by President Nicolas Sarkozy.
“Social mood is hardening, changing, deteriorating: We see that not just in hedge funds; we see that in the very polite, previously libertarian societies,” says Hendry, dressed in an open-necked gray shirt and light-blue linen jacket at his Eclectica Asset Management LLP in London. “Hedge funds are a minority. Guess who else is a minority? People from overseas.”
Hendry, gesturing for emphasis, is just getting started on his defense of the downtrodden, Bloomberg Markets magazine reports in its February issue.

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