Wed, Aug 27, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Fund managers, business, and policy leaders stare into the abyss, call for debt fix

Friday, October 26, 2012

Bailey McCann, Opalesque New York:

If you're looking for an optimistic take on the state of world financial and policy affairs, it's going to be very hard to find. Nowhere was this truer than at the second day of The Economist's Buttonwood Gathering held today in New York City's financial district. The event featured several powerful financial and policy leaders and their outlook is generally grim, with some cautious optimism for the future.

Scottish hedge fund manager Hugh Hendry, CIO Eclectica Asset Management, known for his strong views on financial markets noted that looking over the macroeconomic landscape, he wouldn't be surprised to see a significant contraction in the Chinese economy. "Am I sitting here with video cameras saying the Chinese economy is going to contract 23%? Of course I’m not," he said. "But if we have a coffee later, I might say something different."

He also took aim at the US debt and fiscal policy situation which was front of mind for many of the speakers. Hendry currently owns gold and is short the S&P 500. He explained that the current view that quantitative easing fortified the S&P may be true, but it could also be that gold prices were likely just further out in front earlier on. To that end while he maintains a long position on gold, he notes that he is short gold mining equities as the risk of confiscation in politically tenuous countries with large gold reserves remains high. "There is no rationale ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing Square, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the

  2. Hedge fund assets decline in July - eVestment[more]

    Bailey McCann, Opalesque New York: Total assets in hedge funds declined in July and dropped 0.49%, marking the industry's second monthly asset decline in 2014, according to the latest asset flows data from eVestment. Despite the asset decline, total industry AUM remained above the $3 trillion

  3. AIMA makes 'the case for hedge funds'[more]

    Bailey McCann, Opalesque New York: The Alternative Investment Management Association (AIMA), the global hedge fund industry body,

  4. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest

  5. Ex-UBS prop trader's hedge fund Manikay Partners eyes UK launch[more]

    From eFinancialnews.com: Manikay Partners, a $1.7 billion US multi-strategy hedge fund set up in 2008 by a proprietary trader from UBS with backing from Goldman Sachs, is planning to open in the UK. New York-based Manikay's move into Europe comes after Financial News revealed on Monday that Aurelius