Hugh Hendry's "short China" hedge fund is up a whopping 38.65% this year, according to the Financial Times. The fund goes short China via Japanese CDS, betting that Chinese demand to Japanese corporate credits will slow. It was up 22.5% in August, and so far it's up 11% in September.
Hendry has been a bear on just about everything for over a year now, saying back in May 2010 about the European banking system: "I would recommend you panic." Well what do you know, he nailed it.
Last time we checked in with Hendry, he was also betting on no QE3, sustained low interest rates, and the U.S. missing its growth estimates….
Read more: http://www.businessinsider.com/hugh-hendry-short-china-up-39-2011#ixzz1YQcZQYf4
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