Find below Hugh Hendry's Eclectica Fund's March Letter.
I like Mr. Hendry's style very much:
1. He's a 'no bullshit' guy.
2. His fund offers uncorrelated returns and have outperformed the HF Index since 2003 by a wide margin
3. He seems to use a lot of options and, despite their premium costs, give the fund a lot of asymmetry and leverage
4. He seems to dig deep into structural fundamentals
5. He's also betting against Japan, a nation that, in my humble opinion, will go bust soon.
There are many videos of him around. He's funny as hell when debating with other important figures out there.
Eclectica Fund 2011 03