Hugh Hendry on why we’re already in the 4th depression скачать в хорошем качестве

Hugh Hendry on why we’re already in the 4th depression

Contrarian macro investor and thinker Hugh Hendry joins Julia La Roche for a two-hour, unfiltered conversation that covers everything, from his early years in the hedge fund world to why he’s currently fearful of the economy. In this episode, Hugh discusses his time “healing” from the hedge fund world while living on St. Barts for the past five years. He revisits his earliest years, how he got into markets, and his investment process while running his hedge fund. Hugh also explains why he’s fearful of the economy and unpacks his views on why he thinks we’re currently in the fourth depression in the last 200 years that he argues will end in “a revolution in money.” Hugh is also critical of the Federal Reserve and believes they’re making a mistake with rate hikes while debt is “at warning levels.” The conversation also covers inflation, class warfare, the problems with ESG, current opportunities in the market, why he thinks gold is a “stupid” investment, and his thoughts on Bitcoin. Hendry founded Eclectica Asset Management, a global macro hedge fund that was pretty much uncorrelated to everything in the financial universe. Hugh started Eclectica in 2002 and ran for 15 years before closing in 2017. He made more than 30% in 2008 betting against banks. These days, Hendry is a luxury hotelier on St. Barts, where he spends his time surfing and still thinking about macro. He also hosts a weekly podcast called "Acid Capitalist" and shares his views on Instagram, Twitter, and Substack. 0:00 What's Hugh Hendry doing these days? 2:00 Closing Eclectica Asset Management 3:12 'Healing' post hedge fund world 5:00 Hendry reflects on hedge fund career 8:20 Hendry: 'I wasn't happy. I lost myself.' 11:43 The ability to conceive of a contentious posture 16:30 Hendry on putting together an investment thesis 22:30 Hendry on the power of changing your mind 26:38 Hendry reflects on his childhood 30:18 How Hendry got into markets/finance 36:32 Hendry on the 'Dawn of Chaos' paper 37:27: Why Hendry is 'fearful' of the economy 40:40 The Fed is in the ‘error business’ 44:43 Hendry on the consequences of the Fed's policies 48:50 Why Hendry thinks we're currently in a depression 59:10 Hendry on the revolution 1:08:08 Hendry on The Fed 1:17:20 'Inflation is a social phenomenon 1:29:40 Hendry on what matters more than The Fed 1:33:01 Hendry on ESG movement 1:39:14 Hendry on visitors to St. Barts 1:40:46 Investment opportunities in a mad world 1:41:58 Hendry on China 1:43:33 Uranium, oil, and gas as investments 1:44:16 Hendry on why gold is 'stupid' 1:45:40 Hendry on Bitcoin's value 1:47:22 Hendry on the 4th depression 1:51:35 Hendry sees 'a revolution in money' using the blockchain 1:52:10 Hendry on Bitcoin and blockchain 1:53:50 Hendry on his podcast and Substack // Listen to The Julia La Roche Show on Apple Podcasts: https://podcasts.apple.com/us/podcast... Listen to The Julia La Roche Show on Spotify: https://open.spotify.com/show/1AdbUQ6... #inflation #bitcoin #gold #investing #macro #energy #oil #gas #hydrocarbons #naturalgas #uraniumstocks #nuclear