What an awesome interview! Sackur is obviously very well prepared, and his aggressive questions showcase Hugh's brilliance far better than a friendly interview would do.
@TeifiValley123 - In fairness Hugh is against unconditional bank bail-outs. Banks have succeeded in scaring governments into bailing out failing banks. Having transferred these liabilities onto tax payers, governments are playing the same game with failing countries e.g. Greece, finding it more palatable to have the tax payer bail them out than let them default on their debt; ultimately sparing the French and German banks from taking the hit. So imho Govements are just as much to blame.
this guy should read more books and take less care how he looks on TV! He is a joke! Risk takers are lottery ticket buyers, many hedge fund managers are bookies, including this guy. They all lose money in the end of the day, yet the markets always make money. One has to ask a question, how the hell do you lose money when Dow Jones Industrial Average went from $66 in 1920 to 11,871 last Friday!?!?
i think hugh is being political here. The equation is simple and the journalist is an idiot. Goverments fuck up --> hedge funds take a position against it ---> then govt blame hedge funds and term them as monster--- well politicans, don't make bad decisions in the first place. Make good decisions and then you will have support of hedge funds when they will go long with your country
@ednan9 Slight problem with that though; if all of the hedge funds go long with your country then you end up with an overvalued/strong currency, which means your imports will suffer (see Switzerland).
You don't want everyone shorting your country, because then your borrowing rates suffer, but life isn't a beach for the guys that the hedgies are backing. The only exception is Germany that has an undervalued currency and low borrowing rates.
I generally love Hendry, but this was one of his worst interviews ever. Agreeing that more legislation for "transparency" is good? That the German gov't has a right to ban certain types of trades? WTF?? He should be standing up for capitalism, and instead he's throwing himself (and the rest of us) under the bus.
@spectator59 Hendry is right, Germany ought to have the right to ban certain types of trading - and speculators like us ought to have the right to leave the country. Capitalism in the world would allow some governments to pass bad laws and allow others to pass good ones - which would, in turn, attract capital to the regions of the world where it is treated best. For instance, away from Germany and towards a free market. I don't think Hendry failed to stand up for capitalism.
This interviewer is such a moron. He is just looking to make his point which is anti- capitalism. In other words he believes that bad behaviour should be rewarded? Also, why should a hedge fund or any investor have to make make public their trades?
@gjciloveyou Stephen Sackur is not a "moron". He's a very intelligent, sharp and forensic interviewer who is masterful in his ability to play devil's advocate. As a regular Hardtalk viewer, I've seen him tear apart Bob Crow, Oliver Stone, Jeff Sachs...and other figures on the left and the right. He's an accomplished prober.
Hugh Hendry is a breath of fresh air. A true foot soldier in the defence of free markets. He should be applauded.
These moronic govts run their countries into the ground with there incompetence and welfare spending to buy themselves election and then try to blame it on hedge fund mgrs. Nice, so full of crap these politicians are.
I think he avoided the issue of gambling on the part of speculative capital in a 'pump and dump' process of, commodities, currencies, houses, 'dot com' companies etc. I do agree undermining national economies is partly due to the asinine behaviour of government officials who admire the ruthlessness of what they think is the 'free market' but is in fact speculative activity that thrives on lack of transparency = information asymmetry.
What an awesome interview! Sackur is obviously very well prepared, and his aggressive questions showcase Hugh's brilliance far better than a friendly interview would do.
ozzzzzzo 3 months ago
this is a joke, if a bank gets something wrong they dont pay for the consequences. Their have a taxpayer guaranteed insurance policy.
Take as many risks as you like,
Make huge amounts of money,
When we crash the system - who cares?
We'll get bailed out
Repeat cycle.
TeifiValley123 7 months ago
@TeifiValley123 - In fairness Hugh is against unconditional bank bail-outs. Banks have succeeded in scaring governments into bailing out failing banks. Having transferred these liabilities onto tax payers, governments are playing the same game with failing countries e.g. Greece, finding it more palatable to have the tax payer bail them out than let them default on their debt; ultimately sparing the French and German banks from taking the hit. So imho Govements are just as much to blame.
friedkat 7 months ago
this guy should read more books and take less care how he looks on TV! He is a joke! Risk takers are lottery ticket buyers, many hedge fund managers are bookies, including this guy. They all lose money in the end of the day, yet the markets always make money. One has to ask a question, how the hell do you lose money when Dow Jones Industrial Average went from $66 in 1920 to 11,871 last Friday!?!?
49fiori 1 year ago
Every government knows that transparency/inside trading laws etc. make absolutely no sense, which is why they exempt themselves from them.
Myndir 1 year ago
Thank you.
fliskris 1 year ago
i think hugh is being political here. The equation is simple and the journalist is an idiot. Goverments fuck up --> hedge funds take a position against it ---> then govt blame hedge funds and term them as monster--- well politicans, don't make bad decisions in the first place. Make good decisions and then you will have support of hedge funds when they will go long with your country
ednan9 1 year ago 9
@ednan9 Slight problem with that though; if all of the hedge funds go long with your country then you end up with an overvalued/strong currency, which means your imports will suffer (see Switzerland).
You don't want everyone shorting your country, because then your borrowing rates suffer, but life isn't a beach for the guys that the hedgies are backing. The only exception is Germany that has an undervalued currency and low borrowing rates.
Hedge funds make good or bad situations worse.
afro84 5 months ago
@afro84 Slight retardation there, I meant that you exports will suffer. :-)
afro84 5 months ago
I generally love Hendry, but this was one of his worst interviews ever. Agreeing that more legislation for "transparency" is good? That the German gov't has a right to ban certain types of trades? WTF?? He should be standing up for capitalism, and instead he's throwing himself (and the rest of us) under the bus.
spectator59 1 year ago
@spectator59 you misunderstood his argument... there is a use of sarcasm used re angela merkel. watch again!
carolako2801 1 year ago
@spectator59 Hendry is right, Germany ought to have the right to ban certain types of trading - and speculators like us ought to have the right to leave the country. Capitalism in the world would allow some governments to pass bad laws and allow others to pass good ones - which would, in turn, attract capital to the regions of the world where it is treated best. For instance, away from Germany and towards a free market. I don't think Hendry failed to stand up for capitalism.
mason72518 8 months ago
Hugh Hendry- a true contrarian.
anujbahl 1 year ago
These sort of questions reek of someone who hasn't got a clue how financial markets work.
Juvebeck10 1 year ago
@Juvebeck10 yeah, they are all loaded question designed to make hendry look bad even though hes one of the few who tries to tell the truth
danbuck333 1 year ago
What glasses is Hendry wearing?
string22 1 year ago
This interviewer is such a moron. He is just looking to make his point which is anti- capitalism. In other words he believes that bad behaviour should be rewarded? Also, why should a hedge fund or any investor have to make make public their trades?
gjciloveyou 1 year ago
@gjciloveyou Stephen Sackur is not a "moron". He's a very intelligent, sharp and forensic interviewer who is masterful in his ability to play devil's advocate. As a regular Hardtalk viewer, I've seen him tear apart Bob Crow, Oliver Stone, Jeff Sachs...and other figures on the left and the right. He's an accomplished prober.
Hugh Hendry is a breath of fresh air. A true foot soldier in the defence of free markets. He should be applauded.
Maino88 1 year ago 4
I completely agree with your comment.
goldencraft 1 year ago
These moronic govts run their countries into the ground with there incompetence and welfare spending to buy themselves election and then try to blame it on hedge fund mgrs. Nice, so full of crap these politicians are.
pismo10 1 year ago 2
I think he avoided the issue of gambling on the part of speculative capital in a 'pump and dump' process of, commodities, currencies, houses, 'dot com' companies etc. I do agree undermining national economies is partly due to the asinine behaviour of government officials who admire the ruthlessness of what they think is the 'free market' but is in fact speculative activity that thrives on lack of transparency = information asymmetry.
DavidAKZ 1 year ago
Huge is spot on with his analysis, how do we expect efficient responsible institutions to grow and flourish if we bail out the failures.
Hedge funds are one of the few bastions of capitalism left!
ironmunkeh 1 year ago
Politicians did stupid things for the last 50years and blame the hedge funds now, what a sick joke
YTfcuk 1 year ago
Politicians are so hypocrit...
YTfcuk 1 year ago