Hugh Hendry Closes Hedge Fund After 15 Years as Losses MountBy Katia Porzecanski , Saijel Kishan , and Nishant Kumar
Eclectica Fund lost 9.4 percent this year through August
Hendry gained fame by betting against banks during crisis
Hendry joins hedge fund managers including Eric Mindich, Leland Lim and John Burbank who have shuttered hedge funds this year.
About 259 funds liquidated in the first quarter, according to Hedge Fund Research Inc.
Last year, more hedge funds closed than in any year since the financial crisis, the Chicago-based firm said.
Hendry said he’s optimistic about the global economy and recommended investors remain long.
“For the first time in an age all parts of the world are enjoying synchronised economic momentum and I can’t see it ending for some time,” he wrote in the letter.
Hendry said he doesn’t foresee an abrupt rise in interest rates that would interrupt the equity rally.
Source: Bloomberg
https://www.bloomberg.com/news/articles ... gn=markets
It's all about "how much you made when you were right" & "how little you lost when you were wrong"