Diary of a Financier

Quote of the Day: Hugh Hendry

In Existential on Thu 23 Feb 2012 at 10:30

From a recent Barron’s interview, cue Hugh Hendry of Eclectica Asset Management:

Barron’s: What makes a great macro fund manager?

Mr. Hendry: First and foremost, an ability to establish a contentious premise outside the existing belief system, and have it go on and be adopted by the rest of the financial community. My great hero is Bruce Kovner, who was able to imagine the dollar falling to 100 yen—when the rate was 200. I am an existentialist. To my mind, the three most important principles when it comes to investing are Albert Camus’ principles of ethics: God is dead, life is absurd and there are no rules. Of course, that’s a doctrine of promoting the individual. You own your own decisions. As CIO of Eclectica, with $700 million, I have no engagement with the sell side.

–Romeo (hattip Business Insider)

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