Posts Tagged “Mike Novogratz”

Spotlight Series: Hugh Hendry, Eclectica Asset Management speaking at GAIM International 2010

July 29, 2020

Hugh Hendry, CIO & Co-Founder, ECLECTICA ASSET MANAGEMENT went head to head with Mike Novogratz, Principal & Member Of The Board, FORTRESS INVESTMENT GROUP in the THE GAIM INTERNATIONAL 2010 Debate entitled “The Gap In The Curtain – How Great Minds Disagree” which was moderated by Dan Shapiro, Partner, SCHULTE ROTH & ZABEL, Partner, LINCOLN VALE. He announced the launch of the new Eclectica Credit Fund – dubbed the “beat the politicians” fund during the debate with Mike Novogratz.

In an interview for the Spotlight Series, Hugh expressed the view that the route to success was finding assets classes that are priced as non-contentious… but have the potential to be very contentious.   And his USP? He is the least correlated asset in the world; when every other asset manager was disappointing their customers, he made 50% in Oct 2008 and 2% in June 2010.

Post Under: Asset Management

A complete round up of news and views from GAIM International 2010

June 24, 2020

GAIM International is the “must attend” annual hedge fund conference.  The 2010 event continued that tradition, 16 years in the making.  In addition to the coverage of the event by Beverly Chandler,  we’ve gathered the leading articles and commentary from the business news websites to give you a comprehensive review of this years hugely successful event.  B.H. Fraser provided an alternative view of the industry as Poet in Residence.

We have captured a series of video interviews with some of the industry leaders which will be posted on this site over the coming weeks.   To make sure you don’t miss out, either add the RSS feed to your reader or sign up for email alerts.

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Some key quotes from industry players - Reuters

What does Gerlof de Vrij, Head of Global Tactical Asset Allocation at APG think about hedge funds as a liquid asset class and thoughts from other industry leaders as the sector wrestles with challenges from regulation, consolidation and market volatility…. more here

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Flat currencies to lose value against real assets - Reuters

Veteran hedge fund manager Bill Browder is buying commodities and the companies that produce them in emerging markets to profit from what he said is a looming crisis in the world’s major currencies…. more here

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Hedge-Fund Survival Skills to Be Tested by Increased European Regulation - Bloomberg

“The survival instincts that many hedge-fund managers have in markets they’re also going to have to display in facing up to regulatory challenges,” Rick Sopher, managing director of LCF Edmond de Rothschild Asset Management Ltd…. more here

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Macro hedge funds best despite May dip - Reuters

Hedge funds taking directional bets on markets will be among the best performers in 2010 as concerns over the health of major economies continue to dominate markets, said Lombard Odier’s head of hedge funds advisory… more here

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Executives sound warning on hedge funds UCITS boom - Reuters

“It’s very difficult, if everyone seeks daily liquidity, to invest in hedge funds properly,” said Steve Friedman, managing partner of EOS Partners… more here

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The Mirror Crack’d - FT Alphaville

Mike Novogratz, one of the founders of the giant Fortress Group, and Hugh Hendry, the voluble manager behind the definitely smaller but in some ways no less influential Eclectica Asset Management, slugging it out…. more here

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Hedge Fund investors almost double macro bets as global trades proliferate - Bloomberg

Hedge funds that bet on economic trends are attracting cash at almost double last year’s pace as they seek to profit from events such as Europe’s sovereign debt crisis and China’s decision to let the yuan trade more freely…. more here

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Seed investors return to start-up hedge funds - Reuters

Sovereign wealth funds and pension funds are backing start-up or small hedge funds again, said FRM Capital Advisers… more here

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Mammon and Montrachet - FT Alphaville

What do eastern mysticism, violence, mammon, and am dram have in common? They are all dinner and drinks topics of conversation amongst hedge fund managers in Monaco…. more here

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Sand, sea and SEC - HFM Week

While managers gathered in a stormy south of France last week, for Monaco’s annual GAIM International event, pondered the labyrinthine twists of EU and US regulatory developments, investors jetted in with a different set of priorities… more here

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The Great Investing Dilemma of 2010 - Market Melange

The notion of negative Chinese GDP growth is widely regarded as a near impossibility –much like the notion that house prices would keep going up for ever – scary thought! …. more here

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Hedge Funds Turn Mutual Funds to Short-Circuit European Rules With NEWCITS - Bloomberg

Guy Hurley said he’s not sweating European plans for new hedge-fund rules after leaving Bank of America Corp.’s Merrill Lynch & Co. a year ago to start an onshore fund that uses strategies such as merger arbitrage…. more here

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Byron Wien sees a bottoming in stock prices and the possible return of $10 billion-sized buyouts - Reuters

Wien, who is well known for his annual predictions and who correctly called the rebound in China in 2009, said he was not as bullish as at the start of the year but nevertheless thinks a deterioration in the sovereign debt crisis will be avoided… more here

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Man Group Won’t Make Significant Acquisitions After GLG, CEO Clarke Says - Bloomberg

“It is effectively job done for our liquid trading strategies,” Clarke, 49, said today at the GAIM International hedge-fund conference in Monaco. “It’s possible we could infill with smaller mergers in Asia-Pacific.”…. more here


Post Under: Economic Outlook, General

Renowned contrarian meets legendary fund manager in gap in the curtain

June 16, 2020

In a characteristically characterful meeting, Hugh Hendry, founder of Eclectica Asset Management andMike Novogratz, principal of Fortress Investment Group discussed gold, the Euro and investing in a deflationary environment.

Hugh Hendry debating at GAIM International 2010, 14 - 17 June in Monaco

Mike Novogratz, Fortress Investment Group, debating at GAIM International 2010, 14 - 17 July in Monaco.

Quoting TS Eliot, Buchan and Tolstoy, Hendry held the cultural high ground declaiming that he had had to face the twin axis of financial evil that is Germany and France, transporting himself across the European Socialist citadel to get to our stage. “The Euro is finished” he said. Novogratz was slightly less cut and dried on the subject, believing that there will be a lot more pain before everyone in Europe holds hands: “In the long run, there will be a bail out” he said. “The Euro will go lower and there will be more European political mishaps before they get bailed out.” Novogratz proposed a long Sterling versus the Euro trade. Both Novogratz and Hendry pronounced themselves impressed with the new administration in the UK, with Hendry calling it a ‘great moment in history’ that should have been done five years ago. On gold, Hendry believes it should represent 10 per cent of one’s assets.

On our current deflationary state in the West, Novogratz believes that we are on a global mega trend of globalisation with the so-called emerging markets coming to the fore. “That force could carry us through” he said. And the gap in the curtain? That is Hendry’s reference to our attempts to see into the future. “How does life play out?” he asked “In our haste to make money, we rush to the end.” And there, we may find, Eliot’s Wilderness of Mirrors.

Post Under: Asset Management


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