Erik Townsend and Aaron Chan welcome Hugh Hendry to MacroVoices. Erik and Hugh discuss:
- USD breakout and binary consideration of US economy's condition in a strong-dollar environment
- Brexit contagion and likelihood of strong vs. weaker countries disbanding from the EU
- What the German-Italian sovereign spread portends for EU disintegration probabilities
- Prescriptions for Japan given much greater cultural and political homogeneity
- Evolution of views on developed market equities
- The "time stop-loss" and when it's appropriate to pivot theses
- Global transfer from creditors to debtors via the machinations of QE
- Opinions on QE's efficacy at avoiding an outright global depression
- Government's inability or unwillingness to move on fiscal reform and stimulus
- Where US TSY's are headed next
- Hugh's response to Kyle Bass' China devaluation thesis
- Maintaining intellectual honesty in the face of professional ramifications
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Hugh is the Founder, Partner, Principal Portfolio Manager of Eclectica Asset Management and leads both the investment thinking and research teams. He has over 20 years’ investment experience with Baillie Gifford, Credit Suisse Asset Management and Odey Asset Management. Hugh graduated in 1990 with a joint honours BA in accounting and economics from the University of Strathclyde and has regularly published research papers for practitioner and industry journals.