Hugh Hendry 2009-06-30

(Full disclosure: Somebody else beat me to it. But I had already captured and started to extract the video, so I went ahead and uploaded my own anyway.)

More entertainment starring Hugh Hendry. I have no idea whether he is right, but he sure is fun to watch.

Part 1 – Introduction. “What if this year turned out to be some grotesque groundhog version of last year?”

Part 2 – Madoff investors were “greedy”. On “respectability” and the lack thereof. On the futility of regulation. Apparently, Hugh is taking yoga.

Part 3 – Brief comment on falling prices.

Part 4 – Gold.

Part 5 – If you only watch one of these, make it this one. “I’m yoga calm!” Worries about Treasury supply are like children worrying about “the bogey man”. China. “We have to get used to declining living standards.” “Ultimately, with fiat currencies and democracy, deflation doesn’t happen.” (Hendry’s version of Ka-Poom Theory?)

Part 6 – Soft commodities, ETFs, speculation. On bullish sentiment and “you girls waving your bras at the screen.”

Part 7 – Potpourri. (I got lazy and just ran together multiple clips here.) Banks as an investment. Housing as an investment. Reaction to “Credit Suisse upgrading KB Home”. On people buying real estate today: “They look at 30 years; I look at 300 years.” Conclusion.

Update 2009-07-05

Gillian Tett interviews Hugh for the Financial Times (via Kedrosky). Mostly repetitive with the CNBC appearance, but if you just cannot get enough…