Sun, Jun 24, 2018
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. Paper: The performance of stocks actively pitched by hedge funds[more]

    Using a novel dataset drawn from investment conferences from 2008 to 2013, I show that hedge funds take advantage of the publicity of these conferences to strategically release their book information to drive market demand. Specifically, hedge funds sell pitched stocks after the conferences to ta

  2. North America - US fundraising for special purpose acquisition vehicles hits record this year[more]

    From AFR.com: Special purpose acquisition vehicles (spacs) are hitting the US market at the fastest rate on record, attracting the likes of Goldman Sachs and hedge fund investor Daniel Loeb for the two largest such deals in 2018. Spacs have raised $US4.5bn so far in 2018, the largest amount fo

  3. Investing - Man Group and AQR try to take aim at private equity industry, Hedge funds poised to be winners in AT&T-Time Warner deal[more]

    Man Group and AQR try to take aim at private equity industry From FT.com: The popularity of private equity investments has prompted asset managers such as Man Group and AQR to devise strategies that aim to replicate PE returns but at a much lower cost to investors. Both companies a

  4. News Briefs: David Stemerman's hedge fund holdings shrank before his run for governor, nvestment manager TSW triggers succession plan, Alan Howard joins Peter Thiel investing in Cologne-based fintech startup[more]

    David Stemerman's hedge fund holdings shrank before his run for governor But the U.S. holdings of Stemerman's Greenwich hedge fund, Conatus Capital, shrank from $2.6 billion at the apex to just over $1 billion before he announced his move into politics. (Hartford Courant) Inv

  5. British Empire: Pershing's 23% discount 'unsustainable'[more]

    From Citywire: The wide discount on Pershing Square Holdings (PSH) is 'unsustainable' and puts star hedge fund manager Bill Ackman under pressure, says British Empire (BTEM). Pershing is the third largest holding in the £850 million British Empire trust, managed by Joe Bauernfreund, which sp