“It wasn’t supposed to be like this.. markets are wrong.”
- From Hugh Hendry’s September commentary to investors, announcing the closure of his Eclectica hedge fund.
“The fathomless arrogance of this guy.. his job was to surf the waves, not pick a fight with the ocean.”
- Tweet from Five Minute Macro (@5_min_macro) about Hugh Hendry.
As Gordon Gekko says in Wall Street, if you need a friend, get a dog. Capitalism doesn’t really do sympathy, so there will probably not be a Niagara of tears shed at the passing of Eclectica Asset Management and its funds. Its co-founder Hugh Hendry is unlikely to become a goodwill ambassador for the UN any time soon, as this Greatest Hits compilation suggests.The end of an error