Hugh Hendry Down 6% In March As Bullish Bet Turns Sour

Hugh Hendry (the one time bear) who turned bullish, had some poor timing  (at least, in the very short time frame since the switch). Below is the latest commentary from a February letter which Hugh Hendry sent to shareholders of Eclectica Asset Management, a copy of which was obtained by ValueWalk. The worst part! Although, the letter for March is not out yet, Hendry was down 6 percent during the month and is down in April as well! (see January letter here). The Fund returned 1.1% in February as global equity markets bounced back from January’s losses. The main beneficiaries of this…