Hugh Hendry Adds to Chinese Short Position in May Before Massive Price Collapse

Hugh Hendry of The Eclectica fund is out with his latest letter which has been obtained by ValueWalk (see Hugh Hendry’s Eclectica Battle On BoJ! Gains on Australian Shorts). The highly coveted letter from the long time China bear only comes out on an irregular basis. Sources familiar with the matter states that Hendry tells them that he is ‘too lazy’ to write letters often.  However, with China looking like it is on the verge of a meltdown, perhaps Hendry gets more satisfaction from penning the notes (unfortunately the letter is from before the Chinese market crash of June, but we will have updates for June as soon as we get them). Additionally, the Australian and emerging market shorts should pay off big time based on June numbers. The hedge fund is long the USD, Japan, Short China (which it added to) and has some interest rate positions.