Hugh Hendry: The Fed Doesn't Know What It's Doing
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- čas přidán 14. 09. 2022
- Hugh Hendry, founding partner of hedge fund Eclectica Asset Management, says the Federal Reserve doesn't know what it's doing. He speaks on "Bloomberg Markets: European Close."
Best interview on Bloomberg all year.
You are right
The Fed know exactly what they're doing, just as the ECB do. Sadly guys like this don't have a clue about The G. reat Re. set and Agenda 2. 030 and are completely unsuspecting of what's about to hit them.
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great video and he’s entertaining and charismatic but he’s 100% what’s wrong with the financial world
Hahahahahahaahaahhaaha
This is what the world gets when David Spade goes on a edible mushrooms bender in Scotland for three weeks. We need more of this
Lmfao! That's funny!
Really? I thought he looked familiar. LOL
he just came from the gym and forgot to shave this week and forgot haircut this year
And Spade learns to trade
Lol.
These financial channels need more people like Hugh. Good, common sense..
"Bernanke Believes Housing Mess Contained"
- Forbes (17th May 2007).
"Fed's Yellen expects no new financial crisis in 'our lifetimes'"
- Reuters (27th June 2017)
"Fed's Powell Says 1970s Inflation 'Very, Very Unlikely'"
- Bloomberg (22nd June 2021).
and these people get nobel prices in economics. the perverted reality of the "elite".
thats a WHOOOLE lot of confirmation and survivorship bias buddy.
Inflation is 3%--- SORRY BUDDY DOOMSDAY IS CANCELLED :///
Funny dude I would like to hear more from him. I am tired of listening 24/7 suits sayings same thing over and over.
Hes sweating bullets. Hes coked out and has no clue
This guy wears a suit too ya know
He just owns his company and is seni retired so he doesnt. Care
His got a great podcast on CZcams
"Tell me the last time the Federal Reserve got things right?" That one hit me. They dropped rates in 2020 then held them low for too long saying inflation is "transitory" and gave too much stimulus. The FED alwags over reacts
"NYTimes 09/Apr/2020 With $2.3T Injection, Fed’s Plan Far Exceeds 2008 Rescue"
- Bitcoin 2020 Halving Block Message
Fed tightening caused a repo market crisis right before the pandemic late 2019.
"Fed Preps Second Blast of Cash With Repo Market on Edge." 17-Sept-2019 Bloomberg.
"Why the Repo Market Is Such a Big Deal-and Why Its $400 Billion Bailout Is So Unnerving ALEXANDER SAEEDY (23 Sept 2019) Fortune.
Powell claimed there were no bailouts before the cough, by the way, too!
He isn't even a trained economist so why does he even hold the most poweferful financal role in the world?
are you kidding? the fed got it right just about 1 consecutive years 2008 - 2020 the s&p went nothing but up
“And gave too much stimulus” that would be both Trump and Biden who poured in fiscal stimulus at absolutely asinine levels
Then he immediately cites a Fed study claiming that QT is no big deal and will only be equivalent to a 27 basis point rate hike. So which is it? Is the Fed spot on or clueless? What did the Fed economists think about the prospects for inflation following the covid shutdown? Any of them predict inflation? Did any of those 400 phds making God knows how much money get it right? So what do I think about the FED study on effects of QT? I don't think it's worth the paper it's printed on unless you run out of Charmin.
Stocks are falling and bond yields are rising, but markets still don’t seem convinced the Federal Reserve will pursue plans to keep increasing interest rates until inflation is under control. I'm still at a crossroads deciding if to liquidate my $138k stock portfolio, what’s the best way to take advantage of this bear market?
While there’s more pain to come, investors should look for stocks like Royal Philips NV and Alstom SA that have been beaten down enough that they’re a bargain or get a good portfolio manager
I agree, I've been in constant touch with a Investment advisor for approximately 17 months. These days, it's really easy to buy into trending stocks, but the task is determining when to sell or hold. That's where my advisor comes in, to help me with entry and exit points , I've accrued over $337k from an initially stagnant reserve of $148K all within 18 months
Really need a guide so i can salvage my port-folio due to the massive dips and come up with better strategies. How can one reach this advisor?
Johanna Mussche is my Adviser, She has been of great help and her tutelage has brought me to a higher understanding of profit generation. You can look up her name on the net for her page and reach out. Understands the job perfectly
I just checked out her name online and was able to find her web//site, her qualification/testimonials seem solid with positive reviews. I wrote her concerning my fin-goals
This version of Brave-heart had me on the edge of my seat. You can never take our Freedom.
Comment of the day 🤣👏
Funny
But they'll shrink your savings account using inflation!
Would love to see Hugh, Larry Summers and Peter Schiff in an interview. They would shake the trees bare!
Hugh is a legend, power to him!
Hugh Hendry!
Best line: What should you do with your money? "Put it in your pocket"
Finally, someone talking sense!!! Good man Hugh!!!
This guy is always hilarious
Love when he comes on the show
he should shower
Times have changed and now stock market is all about pump and dump leaving retailers as bag holders. Bag holders turned to long term investors will still bag hold and stock might go to zero. There is too much news, too many analysts, too many factors, too many firms, insiders influencing the stock price. Retailer money is being sucked. I made $245k combined net last year and paid no Federal taxes, but i need some advise from a pro on how to move going forward
the real hassle comes in finding the right person for it. Although,I'm aware that the current booth offers an equal chance of making gross returns//losses. So, I'm vigilant with my verdicts. While researching on stocks//ETF, I came across a podcast where the keynote speaker talked about amassing over $360K returns on a quarterly basis; I'd appreciate any strategies I can use to make similar returns
The downtrend is really alarming, at this point I could really use a coach/manager> or just stay off the booth.
My advisor is *Johanna Mussche"^ You can easily look her up, she has years of financial market experience.
I just checked out her name online and was able to find her web//site, her qualification/testimonials seem solid with positive reviews. I wrote her concerning my fin-goals
"I made $245k combined net last year and paid no Federal taxes", you are the 'expert' at that level. I felt the same in 2008-09, could've thrown money at random in the market and be rich today...listened to my 'professional advisor' resulting in two years homeless. You got this.
The problem is when Hendry says, "Just get out" is that you're not just getting out. You're taking a position in U.S. dollars or Euros or some sort of fiat currency.
And that means that you're purchasing power is going to be eroded away at a high rate. It's not 2009.
He didn’t want to say Gold because it’s a shit investment
That’s why he says nothing is safe like 10 times in a row but he is saying you want the safest thing considering nothing is safe
You assume that in 12 months, core inflation will still be 9% or higher. Inflation won’t be the problem mid 23.
@@charlesriley16 Hmmmm.....what if the political forces want to get rid of their oceans of debt the only way they can?
And that is by inflating it away. Then we might be looking at a much longer time scale.
Right On! Homeboy Hendry is BACK! Exciting to watch - Hendry was right years ago - its good to have him back.
This guy does good interviews. Would have liked for it to be Jon Ferro doing the interview but this is good too.
Alix steel always asks good questions too. Guy does a good job too
@@davidhorak3626 I agree I really like Alix and Guy too. The morning crew is the best.
I think he is one of the 5 people in the world who understand heavy drugs
He reminds me of a friend of my late father. The guy always seemed like he was on some type of mescaline or acid trip and every time you visited he had multiple Hefty garbage bags full of different marijuana strains in the guest bedroom closet, were talking like 30+ POUNDS worth. If he had $20 left he would buy the steak dinner special for $19.95, truly a character.
🤣🤣🤣
Sweating, shaking mess
have Hugh more often on the show
This guy needs a medal for turning 1.3 billion dollars to 30 million dollars...
What are you on about? His funds performance is public record you can check he outperformed the index over one of its worst periods ever.
@@Random_dudebro people like to hate on successful managers
We need more of this type content ; total
Lit 🔥
Always love to listen to Hugh Henry
Why?
Best interview this year great job @Bloomberg Markets and Finance
If true, that is sad.
So good Hugh, bring him back for future interviews. Better than suit guys talking nonsense
Yes you would know wouldn’t you
Hugh looks like he just jetted in from a jungle adventure in Papua New Guinea. A wild looking man for a wild macro time.
he lives on a carabbean island
This guy is one of the most astute watchers of markets
This man truly rock hardship done .
I love it 💕
Not one of the haters ragging on Hugh for his shirt or appearance knows 10% of what he does, and they don't have the nice island view that he does. Keep doing what you do Hugh, those of us humble enough to know what we don't know appreciate everything you do.
Finally someone who isn't lying. Things are NOT okay, stop having lying guests claiming everythjng is fine tricking everyone into buying like a pied piper, bring back someone like this guy who is talking some sense.
Hugh Hendry is fantastic
Bold. As a long time Hugh Hendry fan I say this is his true personality shining through. And I like it.
Fan boy
He is drunk and stoned. It`s obvious that he hides his personality
Our good Hugh Hendry should not be so arrogant, there's people in central banques who understand perfectly what they are doing but in the end it must be understood that they are trying to preserve a sociological an social order, at any cost. In the present case even the global geopolitical order is in question, be ready for anything, anything. If i was a courageous man i would follow his advice wich sounds very good to me, but i have not that sort of courage, i ll remain poor, good surf Hendry !
I like Hugh but you have to hedge what he's advocating. Sure, long treasuries would be the goto prior to a deflation as he's insinuating. However, there's QE and possible dedollarization that could throw a wrench in his cogs.
Finally someone who knows what they’re talking about!
"Boom you gonna make money" That part was really amazing.
One of Scotland's great exports. The man asked "what if" about inflation coming back in 2015 when he closed his hedge fund and likened the period to 1965. That would put us today in 2022 at 1972...
Great interview thank you Bloomberg
Easily dismissed loudmouth. And yet a blind squirrel can always find a few nuts.
thank you brother HUGH in service of others in love and light.
Does anyone have any advice on funds, traders, trading firms, trading desks or any place where one organise to have them design and manage the RMB/USD trade that he mentions. This could also include other long vol tactics like VIXY call options? Turns out, its something very specialised and not many people know how to do it....
This was one of if not my all time favorite interview ever. I never come back to re watch any interviews but this-this I have come back and re watched enough times to comment. Hugh he dry is spot on.this interview introduced him to me. I like his opinions and agree with what he has to say.
Don't blame the Fed for raising rates. Blame the country for making the debt!
Well putting 0% rates for a decade and doing like 5-6 QE program in non crisis economy just to prevent a needed recession is on the fed …..
Hugh is the Genius we need but don’t deserve.
Hugh! -- blast from the past!
This is like the movie Cast Away. I haven't heard from this guy in like 10 years, and he turns up looking like he just got rescued from a deserted island.
Jesus what an amazing interview Hugh knows
Hugh Hendry is great
Great interview.
Unabhängig vom Börsencrash muss man ein anderes Portfolio und eine alternative Einkommensquelle haben, ich habe bereits in Forex und Crypto investiert, die wirklich profitabel sind..
Ja, sicher, dass Forex und Aktien bei einem günstigen Marktanstieg mehr Gewinne erzielen
Das Wichtigste, was derzeit in aller Munde sein sollte, sollte sein, in andere Einkommensquellen zu investieren, die nicht von der Regierung abhängen. Vor allem mit der aktuellen Wirtschaftskrise auf der ganzen Welt.
Ich war ein Investor und ich kann sagen, dass es mein Leben zum Besseren verändert hat 😊😊 In Forex und Aktien zu investieren, wird eine der breitesten Dinge sein, die man tun kann
Ich hatte Interesse daran, in Forex und Aktien zu investieren, aber ich wurde von Freunden und Familie entmutigt, obwohl ich unwissend war
Exakt ! Das ist definitiv Unwissenheit, es gibt gute Märkte, in die man investieren und Gewinne aus seiner Investition erzielen kann
So when the markets are reaping the benefits of a crippling inflation boom just ignore the problem? But when the markets are on the brink of collapse heavens forbid we let one go out in bankruptcy and force the government bail them out? This isn’t a one way street. The government saved the system and all these businesses said “thanks for the free money! We’ll be sure to not save up a security blanket next time!” Markets are cyclical and businesses should prepare the way we do, by creating an emergency fund. If they can’t handle downturns, especially after yet another generational bubble that is gong to end up hurting every day folks way more than these greedy corporations
I love Hugh Hendry
Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy. The fin-Market;s have underperformed the U.S. economy as fear of inflation hammers the prices of stock;s and bonds. My portfoliio of $250k is down to $192k any recommendation;s to scale up my return;s during this crash will be highly appreciated.
You have to get a financial-advisor/broker to aid you diversify your portfolios to include commodities, inflation-indexed bonds and stocks of companies with solid cash flows, as opposed to growth stocks where valuations were based on future potential earnings.
@@joshspring7686 I agree, my prof!t have been quite consistent, regardless of market situation, I got in early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2020 this time with guidance from a portfolio-adviser. I found her on a CNBC interview where she was featured and reached out to her afterwards. long stry shot, its been two years now and I’ve gained over $85ok following guidance from my investmnt adviser.
@@miawhitlock9140 Even if you have a humongous income you still need to draw up futuristic plans because anything can happen. Investment cannot be overemphasized. The lady you mentioned how can i connect with her.
@@chrisbluebird5037 I just looked up Wendy Helene Bennett online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled a call.
Put it in your pocket.
I could listen to him for hours just to hear his accent !
I agree with this guy... Even though he looks liked they found him in a Bar...
Amazing interview
Sure bubbles are sustainable as long as you keep printing money.
Assets managers and analysts are desperately trying to keep that bubble inflated, the rest of us be damned.
What a powerful, enjoyable guy he is
The problem is the debt not raising rates which is essential to restoring price stability, the bedrock of economic prosperity. Questions should be asked not of J Powell in 2022 but of J Powell and his central banking friends up to 2021
Absolutely right...."The hardest thing is to walk out of the casino"! Ya sure, that's taking a position in dollars, but I'd rather lose 6-7% in real terms over a year with fiat than lose 50%+ in nominal terms on basically anything else. Add to that the promise of a 50% (or more) recovery over the next couple years post crash (perhaps more if we talk real estate) and it's a pretty solid strategy. Anyone else think Alix has a crush? How about that eye roll when Dalio is mentioned! LOL!
I have a crush on Alix and Caroline Hyde.
@@jivebunny3765 Lacqua all the way. LOL!
Global dollar shortage/ global collateral shortage is the biggest threat to the global economy.
not the WEF?
@@quant2011 No, not the WEF.
Best interview ever so far.
You must be joking
Jeff Snider is without a doubt one of the five.....and he knows the other three
omg it's Cathy Wood's brother
Love this guy.
All sizzle, no steak
Bit of selective memory from HH. 14 years ago he was saying it was great that the ECB had put rates up and they should do more.
you seriously remember that or can we find it online? seems sus.
@@chillones9574 … No seriously he was on CNBC and they were making a big deal about him appearing. His thing before the GFC was that the Nikkei was going to some ridiculous measure and he backtracked on that as well.
I sent an email pretty shortly after about it (that’s why I remember) at the time so assuming that’s still in my sent items I’ll get you a date and time.
@@chillones9574 … Yep. He was on CNBC Power Lunch Europe on 22/10/2008 saying that the ECB should have put rates up and the time stamp of the email is 10:42 so I assume he was on ten minutes before that.
Great insight! Love this guy
everytime he speaks. look back at the charts. he's right quite alot
Billy Connolly if he did a finance degree instead of becoming a stand up
this guy looks like he is in a rock band and happened to be an investor at the same time
Many could see 2008 coming, just couldn't see when. I sold my house and didn't buy back. Tried to talk parents into selling their home (bought 2004) but wouldn't listen.
Sold my House in july 2021 .
So much caffeine or addy he’s sweaty af in that cold studio 😂
never been in a studio have you Claudia
The Fed printed tons and did lots of bail outs (by the standards of the day) for the 2008 crisis as well - where was the inflation? This is strange. Normally high inflation results in gold going up - that has not happened either. The inflation is partly (if not largely) due to the supply chain issues we continue to face thanks to COVID and China's persistent lockdowns, and the oil crisis. Once these things settle, inflation will probably plummet. Otoh if the Fed takes inflation on face value and over corrects, we could have a collapse of crazy proportions. They have already raised rates at a faster pace than any other time in history (even Volcker didn't move this fast), they better become a little more circumscpect.
This guy's great
Never wear grey T-shirts if you sweat a lot :D Other than this, Hendry is always a welcome sanity check.
He is interesting in his thoughts and his speaking.
Hugh Hendry is so great! The new age Jim Cramer!
Neither does anyone else
Ok comment section, how many glasses of wine did this guy have before this interview? I'm going with 5 minimum!
Liquid lunch
Why? Cuz he doesnt sound like a nerdy econ professor? The people in suits are always wrong, remove ur bias
Good old Hugh Hendry. Court Jester. Bamboozles everyone with his story telling. Nonsensical inane drivvle.
Hendry is Boris of Eclectica
@Steven "Nonsensical inane drivvle [drivel]."
What did he say that wasn’t fact?
Guy nailed it. System is broken.
So who are the 5??
It knows what it is doing. It is just that what it is doing is for most of us. It is for specific groups which want to control
Diversify, cause we don't really know what the FED is gonna do. They might pivot, they might not.
Love his response to the safe place. Think people (including me) often forget that money is a tool of economics which isn't math, it's a social science. Social science is behavior so to ask for safe place in a social setting is the most trusted person in that social setting which would be you. If it's not possible then the next best social behavior.
what kind of high He is on ?
Life, he lives on his own Island.
Dont know but its hugh
@@bipolarpunt5721 Exactly just high on life. He's always like this
Life baby, Life
Turns out he was spot on
If the way to combat inflation is to raise rates then that is pulling money out of the economy.
Then how did all this money get into the economy in the first place?
My favorite investor. A smart, no bullshit kinda guy with logic.
Least professional person on Bloomberg. And in complete denial of inflation. The days of zero interest are over, get used to it.
Wish I understood some of this
Not your fault when bubbles are inflating people that benefit are fine with it .this asshole is cracy and doesn’t make sense
Central banks understand money, however they understand they have central control over policies to manipulate markets. They know the effect of what they're doing, but they don't care, from their golden tower. They make what they want to profit the people that keep them rich and in power. On one side, the real economy is a force of physics that applies vector dynamics, on the other side, you have central entities who manipulate economies to profit from it. Sure they'll tell you they're tackling inflation, but what they know yet don't say is that there are better ways to tackle inflation, but for that you have to punish the most successful and powerful people in the world in order to restore the balance with everyone else. Vector economics are what they are, they don't go wrong, they adapt in real time. But then you go policymaking ideals that match vested interests and big companies and powers that be. They don't go for the best greater good, they go for the most effective for their own interests. At the expense of the others. The way they see it, the first to bleed will be those who rely on government helps or simply are poor. To them, they are tackling inflation by sacrificing the "least successful" on their own terms. No amount of new printing will reduce inflation. No amount of debt will refuce inflation. What will reduce inflation is to end wealth disparities and treating everyone more equally. That, or sacrifice those hit most by inflation. That's the current feds' plan.
This man is speaking facts. These fools have horrendous junk bonds classified as quality and on the balance sheet.
Seeing his reaction to ray dalio made my heart warm. I dislike ray dalio way too much. I’ve also been sitting on my hands for month! Patiently waiting for my targets. Cash is NOT trash.
The GFC had about 60 billion in impaired assets while the coming while GFC 2.0 ( crib death ) you have 9 trillion?
With all that sweet equity trapped behind a 7% mortgage paywall , what happens to the equity when rates are -7%?
This time around, the Fed has been too late in reacting. If they started the hiking cycle earlier in 2021, we wont be where we are now. Rates need to go much higher to pressure inflation back to target levels.
Bubbles pop, "leaving it alone" isn't really an option on anything but the short term. Better to pull that bandage off now.
Last time I heard this guy he was doing stakeboard inside his Paris flat next to the Eiffel Tower.
Surely an interesting personality and make good points
Life is hard enough with accidents, storms and fires without malicious politicians causing trouble💥💥
8:45 yeah distrust is a major problem, but the central bank doesn't try to democratically analyze people vote on what they want to trust and what they need to trust and what they don't understand, it's either logically based or subjectively based, no in-between, no interpolation, just pure madness
Very good interview but viewers should keep in mind that Hugh Hendry has a long history of getting it wrong but maybe he will be right this time. 😀
This Part!
At least he's not on here shilling the likes of Tesla, FB, or crypto.
Hugh is unique!