Hugh Hendry, Hedge Fund Manager: 'If There Was A Way To Short Obama, I Would'
Hugh Hendry, the subject of a New York Times profile today, is quickly becoming one of the world's most recognizable hedge fund managers. And he's doing it with quotes like this: "If there was a way to short Obama, I would."
(Perhaps going for understatement, the NYT titles its piece "An Outspoken Fund Manager With Contrarian Views.")
Comparing Hendry to George Soros, the NYT describes Hendry as an "anachronism," the kind of hedge fund manager who eschews high-frequency trading and other automated techniques.
But the comparison to Soros is a bit ironic, since Hendry and Soros are polar opposites on how to approach the recovery. Hendry has blasted Soros, a legendary investor, for his stance on Europe's debt crisis. Soros has been warning of the EU collapse in recent months, and took to the New York Review Of Books to blast the German austerity movement.
Hendry, the head of the London-based Eclectica Asset Management, is anything but a fan of government rescue or intervention in private sector. In a recent interview with Bloomberg News, he took a direct shot at Soros, and anyone who would suggest the government can spend its way out of a crisis. Here's Hendry:
"The richest people in the planet become socialists. Socialism is a great thing for George. I want to bring George down, I want George's reputation but George is now embracing socialism."
Here's more from Hendry, who suggests EU politicians just won't let the market do its work:
"Today, in Europe we have a new Axis Of Financial of Evil, it is Germany and it is French, bureaucrats and politicians, who are determined to destroy wealth and the hard-working entrepreneurs that we find in this continent. "WATCH Bloomberg News's interview with Hendry.
In another interview, Hendry blasts European "Champagne socialists."
In May interview with The Financial Times' Gillian Tett and economist Jeffrey Sachs, Hendry had these tidbits of advice: "Let's take on a recession" and 'I suggest you panic." (Video here)