The ACID Capitalist Podcast

Send us Fan Mail Macro Confessions Part XX (Autumn 2005) We welcome back again,  the Scottish tormentor, Chris Sweeney, to chronicle the inner workings of Hugh's orthogonal Eclectica Fund. The boys use his monthly client letters as a Hedge Fund boot camp to reveal what he was really thinking at the time and why he made the decisions he did. No new Hedge Fund wannabee can afford to miss his jo...

Send us Fan Mail Ever attended a Hedge Fund Christmas Party? We've super charged the subtitles as we welcome back the Scottish tornado, Chris Sweeney to once more chronicle the inner workings of Hugh's orthogonal Eclectica Fund. The boys use his monthly client letters as a Hedge Fund boot camp to reveal what he was really thinking at the time and why he made the decisions he did. No Hedg...

Send us Fan Mail This week we have a Shared Confession. Former macro hedge fund manager, Hugh Hendry, is joined by Dr. Angus Fletcher (Phd, Yale) , a neuroscientist and professor of Shakespeare. Angus rocks ! His latest book, Creative  Thinking, was written especially for US special operatives engaging with live risk. We discuss the carry over principals for all wannabe hedge fund investors. This...

Send us Fan Mail Ex macro hedge fund manager, Hugh Hendry, again invites his former investment partner, Tom Roderick, to review the global macro landscape. This week Tom discusses his new macro essay, China's Zodiac Doomsday Clock. Hugh becomes nostalgic for March 2009 and his slow train journey to Wuhan which revealed abundant evidence of China's property overbuilding 12 years ago.  Tom...

Send us Fan Mail Former macro hedge fund manager, Hugh Hendry, again invites his former investment colleague, Tom Roderick, to review the global macro landscape.   This week they argue over inflation. Hugh is sceptical, Tom less so. The gonzo investor rails against the media’s shock and outrage on witnessing higher prices. “We closed the world for more than a year and then jolted it back to life w...

Send us Fan Mail Hedge fund manager, Hugh Hendry, again invites his former colleague, Tom Roderick, who manages macro at Trium in London, to review the revelatory and impending bust of China's legendary Evergrande Property. Macro hasn't been seen in Chinese waters for almost a decade. A strong currency with a positive carry and a stock market seemingly impervious to shocking state interv...

Send us Fan Mail Hedge fund manager, Hugh Hendry, invites former investment partner, Tom Roderick, to dive under the hood and examine how one becomes a hedge fund manager. They revisit the summer of 2005, the S&P has been marooned for 2 years moving sideways as the economy and corporate profitability improve. What would an aspiring young manager do? Hedge fund pirate Hugh Hendry chronicles the...

Send us Fan Mail Hedge fund manager, Hugh Hendry, invites digital fashion entrepreneur, Karinna Knobbs, to provide another overlay between macro and tech and maybe even fashion? Ever wondered how hedge fund managers develop their ideas? Watch as Hugh interviews Karinna and they discuss THE DEMATERIALISED, an experimental marketspace for digital fashion including a system for the creation and tradi...

Send us Fan Mail Hedge fund manager, Hugh Hendry, invites technology savant, Benedict Evans, to provide an overlay between macro and tech. Together they explore the new questions: crypto, machine learning, shifts in ecommerce, what's happening in media, China, and it's 900 million users and their significance on the rest of the world. Hedge fund pirate Hugh Hendry chronicles the inner wo...

Send us Fan Mail Chapters: 00:00 Confessions Part XXI Fed Irrelevant. Macro Has Changed 01:30 3D Macro 03:20 De Carbonisation / De Globalisation / Demographics 06:30 A Commodity Bull Market with no Brakes 07:20 Oil Price $180 to $65 but 13 y later, GDP +2x & Wealth +3x 08:30 Does DeCarbon De-Nuke Corporate Profits? 10:00 One Bank will become risk seeking; others will follow... 14:00 Worst Beco...

Send us Fan Mail Hedge fund manager, Hugh Hendry, invites his former colleague Tom Roderick, the manager of the Trium Macro Hedge Fund, to review this week's crash in cryptocurrencies. They draw parallels with the tech bubble of the late 1990s and the pyramid of leverage that lay behind the housing bubble in late 2006. They discuss bitcoin's coming of age. With values soaring past one tr...

Send us Fan Mail Macro Hedge Fund Manager offers more global insights and delivers a shellacking of Elon Musk, Tesla, and their incestuous menage-à-trois with Bitcoin. Comparing the ESG mood to the anti-bank sentiment in the 1930s, he compares Bitcoin with Lehman Brothers; is one as incongruous as the other? He takes us from a critique of dirty bitcoin to a deep dive into the Chinese steel industr...

Send us Fan Mail Hugh goes back to the future to zero in on the hydroelectric income trust, Innergex, in the Canadian province of Quebec. Having invested back in 2005 he re-examines the business today, 16 years later. He also empties the tank on his disdain for fellows in suits and moustaches, the zeitgeist of impending inflation and what the big US banks are telling us. He even treats us to anoth...

Send us Fan Mail Hugh gets X-rated unveiling his version of hardcore pornography - The Hendry Chart Rotator.  He offers a lesson from what can be gleaned from chart patterns.  We discuss the shocking failure of Europe - youth unemployment - and why the banks are the cork in the bottle right now and an analysis of Sony recording their biggest ever annual net profit. Hugh even gets in an almighty fa...

Send us Fan Mail Mick Jagger's Swagger warns us to be wary of Bitcoin Hugh lifts the lid on how the pressures of working side by side with Crispin Odey drove him to seek refuge on Mustique, where he rented a house next door to Sir Mick Jagger and near Bryan Adams, He talks about how a drop in commodity prices in late 2004 hit him hard, but how he battled with the searing Caribbean heat (minus...

Send us Fan Mail Hugh laments on the things he didn't see as clearly in 2004, as he does now. There's a warning from someone who's experienced it - if you're anointed an investment god, don't get too high on your own supply. And an article from The Financial Times is eviscerated for forewarning the coming power of digital currency. Hedge Fund pirate Hugh Hendry and co-host...

Send us Fan Mail The narrative continues as we jump from uranium into the oil market, and we get filthy, maybe even dirty... Why did the scorpion kill the frog? Hey hedge Fund managers gotta make money. There's also a look at China, could it be about to turn Japanese? Too early to say conclusively but the Princes of the Yuan are stirring? Hedge Fund pirate Hugh Hendry and his co-host Chris Sw...

Send us Fan Mail Deep dive into the uranium sector and the Archegos scandal. Plus, how Hugh was almost tossed out of a plane by Robert Mugabe’s money men during a trip to Africa. Hedge Fund pirate Hugh Hendry and his co-host Chris Sweeney chronicle the inner workings of the uncorrelated and legendary Eclectica Fund  The boys use Hugh's monthly client letters as a hedge fund boot camp to revea...

Send us Fan Mail Confessions XII 4thQ 2003 - Goldfinger, Putin, travelling supersonic and finding EU carbon credit equities. Hedge Fund pirate Hugh Hendry and his co-host Chris Sweeney chronicle the inner workings of the uncorrelated and legendary Eclectica Fund The boys use Hugh's monthly client letters as a hedge fund boot camp to reveal what he was thinking and why he made the decisions he...

Send us Fan Mail Hedge Fund pirate Hugh Hendry and his co-host Chris Sweeney chronicle the inner workings of the uncorrelated and legendary Eclectica Fund's 15-years of operation, from 2002 to 2017. The boys are using Hugh's monthly letters to clients as a basis to take the audience on a journey into what he was thinking and why he made the decisions he did, in real time. It's the f...

Send us Fan Mail Confessions X July/Aug 2003 - Hugh's shorting Lehman Bros and reveals all about his Mercedes luxury mobile office/cinema that his wife drove! Hedge Fund pirate Hugh Hendry and his co-host Chris Sweeney chronicle the inner workings of the uncorrelated and legendary Eclectica Fund  The boys are using Hugh's monthly letters to clients as a basis to take the audience on a jo...

Send us Fan Mail Confessions IX June 2003 - Why Hugh "St Barts Bono" Hendry should run the Bank of England, plus the genius of buying a lousy company. Hedge Fund pirate Hugh Hendry and his co-host Chris Sweeney chronicle the inner workings of the uncorrelated and legendary Eclectica Fund's 15-years of operation, from 2002 to 2017. The boys are using Hugh's monthly letters to cl...

Send us Fan Mail Hedge Fund pirate Hugh Hendry and his co-host Chris Sweeney chronicle the inner workings of the uncorrelated and legendary Electica Fund's 15-years of operation, from 2002 to 2017. The boys are using Hugh's monthly letters to clients as a basis to take the audience on a journey into what he was thinking and why he made the decisions he did, in real time. It's the fi...

Send us Fan Mail Hedge Fund maverick Hugh Hendry and his co-host journalist and author Chris Sweeney chronicle the inner workings of the uncorrelated and legendary Eclectica Fund's 15-years of operation, from 2002 to 2017. The boys are using Hugh's monthly letters to clients as a basis to take the audience on a journey into what he was thinking and why he made the decisions he did, in re...

Send us Fan Mail I recorded this last summer. I have so much admiration for Professor Pettis. Almost everyone in macro with risk positions in China inevitably must seek out his sage council. I really enjoyed the opportunity to bathe in his wisdom once more. But first, we had to talk about the rock scene in Beijing. Enjoy. Support the show ⬇️ Subscribe on Patreon or Substack for full episodes  ⬇️ h...