Hugh Hendry is a very smart fund manager indeed and is a bear. His returns, on that basis, over the past twelve months, have not been very good. He has managed his risk to minimising the losses but there is no disguising the fact that he has suffered for being a bear.
And thus he has just written to those who invest in his funds saying, in a rather long winded manner, “hands up.” Indeed Hendry warns that share prices could be about to go sharply higher. That is not because they are cheap. Hendry believes that on fundamentals equities are not attractively valued. I tend to agree.
on Shareprophets | CommentsFiled under: