hendry: i feel like i am here saying i was only getting. -- kidding.ink there are many managers who have gone out like this. it is a function of economics. and the cost of running a hedge fund, regulatory and other considerations were to great. -- too great. i died in active combat and the notion -- guy: i do not believe this is it, this is a hiatus, isn't it? mr. hendry: i have had an immense love and appetite for life, specially because it is capricious and i feel i am better tuesday did -- suited to do with the random course of events good and bad which will arrive. guy: when -- are you talking about the markets? mr. hendry: the last three months work harrowing -- work harrowing.-- were returno cousins, their seven mediocre since 2012. there is an avid is to do something -- there is an effort is to do something and there has been high levels of risk to say that we are trying, i was no exception. i ran a lot of risks under the summer and to my great horror i've a claim -- i became deeply core oil to the -- president trump's presidency and geopolitica

hendry: i have absolutely no idea.uy: nothing that works or do you think has got legs as you look at what will happen going forward? mr. hendry: you are confusing me with someone else. i am the guy you want some ideas. i am not the guy who does the plumbing. i am very bad at the plumbing. i do not want to offer corporate responses for the hedge fund community. i have offered one which would be client-based, willie to underwrite losses. i want you to -- willing to underwrite losses. that -- fory investors today, a lot of good news and enjoy it. it will come to pass. when it comes to pass, people were say where is the market hedge funds? i have cosmic karma. jonathan: to wrap things up, it was always well known that you were not a city boy and did not like london. what is your message parking or leaving the hedge fund world? mr. hendry: i do not know what gave you the impression i was not proud of the finance clan. my point has been come i have been very good at being idle. sitting in front of a named terminals for 10-12

so what that point he would become more articulate so late in life hendry stands began to recognize the point going from just speaking to those flights of oratory and i usually have been when sometimes he would have very small hand written notes but at some point in his presentations the glasses with up and the oratory began and his friends or fans would call that the war chant. henry was born just to give you a? idea born in 1736 died 7099 washington was born 32 also died 1799 jefferson is nine years younger board in 43 and then well into the 19th century so the question is sometimes asked as lit was posed that we remember henry for that liberty of death speech and cannot think what else he may have done so i'd like many kids contemporaries he does not have a place in this national pantheon so in part that is because he never held a national office attending the first and second continental congress as a permanent participant in those defense but is 76 he was back when congress was busy declaring independence writing the declaration of independence henry was back in virginia and withou

there is a great interview coming up with hugh hendry.d like this. the journey from glasgow to the city of london, the return 31% in the depth of the financial crisis. they a u m went from billions to millions here at it will be a conversation about how tough it has been to make the transition bear -- bear to bull. will be interested he left a final trade in there as well to do with bond market volatility. tom: what i thought was remarkable is mr. henry does not -- did not get crushed. it was little losses for a long time, different than the usual hedge fund debacle. jonathan: i think they did mid returns, we will get into that with him. to your point i think that's an individual event. it was a man known to be the big bear turned bullish, but never quite managed to hold onto the aum. people gave him money because they wanted money there for the doomsday scenario. jonathan ferro though, looking forward to hearing what endry has to hugh h say. when emily says the high level of leverage at chinese companies is an accident waiting to happen

well hendry robots. have passed on monday and we gave you the chance to win them by telling us what you would like to see written on this red hot the winning phase it is that we are sharing the same kind of madness and that came from my attic in tacky well done these three souvenirs will be on the way to you soon and i think congratulations i must also say goodbye we have time for today thanks to cheney and everyone i'll see you next time. next time on your next democracy your next special meet the photographer. visit tomba kosovo the cradle of german democracy. and get a read inside the german parliament building the high stock democracy day next time on your tax. africa. teaming up to go green german and tanzanian students and trees and install solar panels on the roof of this school. these protests are aimed at generating zero emission electricity to students and helping the environment and making notes of new. friends eagle and africa in thirty minutes on d. w. and. enter the conflict zone confrontin

well hendry. best on monday and we gave you the chance to win them by telling us what you would like to see written on this red hot the winning phase it is that we are sharing the same kind of madness and that came from my attic in tacky well done these three souvenirs will be on the way to you soon and as i say congratulations i must also say goodbye we have time for today thanks to cheney and everyone i'll see you next time. next time on your next democracy your next special meet the photographer germany's political. the cradle of german democracy. inside the german parliament building the stock democracy day next time. european stars deliver a rousing performance at the. trip to hong kong but some might think. the british make less. in concert with fifty small d w. that people the world over t.w. on facebook and twitter up to date and in touch. follow us. tag germany decides what is your take on the whole position regarding not only climate change. what do you want to know about germany's gener

well hendry robots. best on monday and we gave you the chance to win them by telling us what you would like to see written on this red hot the winning phase it is that we are sharing the same kind of madness and that came from the attic in tacky well done these three souvenirs will be on the way to you soon and as i say congratulations i must also say goodbye we have time for today thanks for chiming in everyone and i'll see you next time a bye for now. next time on your lax democracy back special meet the photographer. visit. the cradle of german democracy. and get a read inside the german parliament building the high stock democracy day next time x. . experience the future. at the international motor show in frankfurt. open cockpit design. concept car studies and digital trends. are full of possibilities. even classic cars are going with the highlights of the i . driving in thirty minutes on w. . germany state by state. the most colorful. the liveliest. the most traditional find it all at any time. che

well hendry robots are now to vest on monday and we gave you the chance to win them by telling us what you would like to see written on this gingerbread hot the winning phase it is that we are sharing the same kind of madness and that came from eric in tacky well done these three souvenirs will be on the way to you soon and i think congratulations i must also say goodbye we have time for today thanks to cheney and everyone i'll see you next time. next time on your next democracy. meet the photographer. kosovo the cradle of german democracy. i'm going to read inside the german parliament building the high stocks democracy day next time. maybe this guy says taking over madison square garden. a special event is going to have and played here from a woman she. is cool being on stage at one of the world's premier concert venues. his. public spoke. she's long been a symbol of hope in syria. i try to help people. aside does she stand for change. for the false facade of her husband's rule of terror. she believes and what the syrian regime is doing and believes in those who say. projection that

jonathan: i caught up with hugh hendry, after 15 years, he shut down that fund.et a final trade from him. this is what he thinks is the most distorted market on the planet. take a listen to this. hugh: inevitably there will be an air pocket. where is your protection? so in protection terms, i think , the most distorted asset class in the world is the two-year german bond. i would be short that. people are willing to lose 75 basis points a year for security. you know what? you don't need that security. it is the wrong price. jonathan: kathy jones, the two year, that is a stubborn trade. kathy: the problem is we have been saying that for how long now? jonathan: quite a while. kathy: yeah, and so people get tired of fighting the trend. they are starting to stand back, but it doesn't make sense. i am not willing to pay the government of germany for the privilege of buying their debt. jonathan: certainly not 70 basis points. george, i would ask the depot rate of the ecb is -40. we have an ecb talking about pulling back, pulling back on qe, as well. yet, bund yields ha

it was taken at hendris beach as severe weather barreled through santa barbara.over at west beach it was much of the same. >> everybody was screaming i could hear people screaming all over the beach. there was a lot of people that were hurt out here. >> reporter: monique martinez was trying to get back to his car when it started to rain. then it started to pour. >> then there's a wind storm with hail threw me from the beach all the way dragged me by the boats to the fence where i had to hold on to the fence. and i barely could hold on because it was pushing me. there were things flying, kayaks, boats. >> reporter: she says her niece was injured by a flying object. possibly a kayak or boat. she was taken to the hospital. >> he just came out of nowhere within, it happened within 20 seconds where all of a sudden it started raining and then wind came. flipped over all the clients and the kayak just blew. >> reporter: reg busche was kayaking. the entire group was tossed into the water. >> it was just minutes but it felt like hours. i am just glad everybody is fine, ac

you back to the hedge fund world what we've seen this morning, big headline overnight saying hugh hendry is closing his funds. he was the star of 2008, even though later on his portfolio shrank quite a bit do big names still work in the hedge fund industry? is it about whether you have an ai-trained person on deck? >> one ai-trained person will not cut it i wish it would. you have to find -- it's challenging. you have to be nimble enough to be flexible and venture into the new areas. that's the challenge with a larger organization, new ideas find it harder to make it through. it's also a question of budget that makes it harder for smaller companies to continue to push for these innovations. it's becoming more and more costly so you do have to have a certain size but at the same time the organization has to be flexible and nimble enough to venture into the areas you were just pointing out ai is one area that has advancements that takes place i think it's necessary to go into these and look into these approaches and use them eventually and funs organizations are not willing to do that they

president of hager sharp and cochair of the mpc headliners team to skipping over our speaker caroline hendrie executive director of the education writers association. carero rom is a dreamer and a soft more at duke university. catherine morris writer for diverse issues in higher education, linda feldman washington bureau chief for the "christian science monitor" and peggy sands orchowski congressional correspondent for hispanic outlook in higher education and senior correspondent for the georgetown there. [applause] i would also like to acknowledge additional members of the headliners team responsible for organizing today's event. fisher martin heather weaver april turner mark chef and joseph lujan. lily eskelsen garcia is president of the largest labor union in the country, the national education association. she is the first latino elected to lead the naa and she joins us as students across the country heading back to school. it's also a time when efforts are underway to further privatize public education broback protections. the naa represents 3 million teachers and school employees who wo

skipping over our speaker, caroline hendry, executive director of the education writers' association. axo herrero ramos, a dreamer and a sophomore at duke university. katherine morris, writer for diverse issues in higher education. linda feldman, washington bureau chief for the christian science monitor, and peggy sands, congressional correspondent for hispanic outlook in higher education and senior correspondent for the georgetowner. [applause] i would also like to acknowledge additional members of the headliners team responsible for organizing today's event. betsy fisher martin, heather weaver, april turner, mark schoeff and joseph. lily garcia is president of the largest labor union in the country, the national education association. she is the first-ever latina elected to lead the nea, and she joins us as students across the country are heading back to school. it is also a time when efforts are underway to further privatize public education and roll back student protections. [applause] >> i'm also trying very hard to concentrate on on the message i want to bring to you today, but

hendry is known for his provocative statements and contrarian views. management. and european banks during the financial crisis. that is her business flash update. joe: what you need to know for next week. this is bloomberg. ♪ >> this is bloomberg real yield. leverett has been building up over the last year or so. >> broadly, yields are at a low. >> the fed is behind the curve to some extent already. >> a cyclical trade may be getting longer in the tooth. ♪ scarlet: "what'd you miss?" record highs for the dow and s&p, the s&p closing at 2500. united nations hold a general debate tuesday with president trump scheduled to speech alongside the presidents of france, israel, brazil. joe: the federal reserve announces it rate decision from janet yellen. julia: the bloomberg global business forum ringing together for most leaders in business and finance wednesday morning. joe: one other thing, probable storm jose to become a hurricane categoryxt 48 hours, a categoryxt 48 hours, a two or categoryxt 48 hours, a two or so we need tablets installed... with the menu app ready

hendry had an interesting point. he was bullish, but investors don't pay him to bet on the u.s.o figure out a way to make money for them, should there be a correction, and he didn't believe there would be. believes, based off of data from the 1960's, that there should be a real inflationary environment. -- re-inflationary environment. he was short of fixed income. all the thing supposed to go in his favor went against him. you keep hearing these arguments, the opportunities haven't been there, there hasn't been monetary policy diverging, but there are a lot of other clock -- asset classes you can make money in. macro funds don't invest in emerging markets. there is opportunity there. because they have negative rates in europe, you don't have the opportunity. but you can get more creative. maybe some of the guys that made money in the past are maybe cut out -- aren't cut out for the current environment. making money and choosing your trades and getting the time right. >> right. scarlet: there are funds doing well. what strategies are working? >> we have seen funds investing in em

. >> if you live in an evacuation zone in these counties, have been order to evacuate, lee, hendry, palmch, broward, miami-dade, collier county, you must evacuate by midnight tonight or find shelter to avoid life-threatening impacts. if you're in this area and plan to leave and have not done so by midnight, don't get on the road. it will not be safe for you or the law enforcement needed to protect you. again, if you're in those counties, if you're planning to leave and do not leave by midnight tonight, you will have to ride out this dangerous storm at your own risk. school buses are aiding in evacuations. take advantage of this service. i'm a father and grandfather. i love my family. i can't imagine life without them. do not put yourself or your family in harm's way. if you have been order to evacuate and still home, please go to a shelter. i encourage everyone to check on your neighbors. if you know somebody in your neighborhood that is not evacuating and should, please contact them. today is the day to do the right thing for your family and get to safety. this storm is wider than our e

capital vehicles this is, as you mentioned, just the latest in a string of closures it follows hugh hendry'sement last week he'd be closing his first eclectica and andy hall announced he'd be closing astenbeck. the city saw findustry saw fewe sures during the second quarter. fell to 222, decline from the prior quarter and same quarter last year. at the same time, hedge fund launches totaled 180 compared with 170 during the second quarter of last year and it harks back to something julian robertson told you, kelly, at last week's delivering alpha, said one of the key issues plaguing the industry right now is competition and pine river is just the latest to succumb, guys. >> tough out there >> yeah, i mean, you would have thought we're through it by now. >> no. >> leslie, just real quickly, feels like this dribble continues, don't you think there are years when it accelerates, but doesn't feel like we're through it yet. >> not at all. and, you know, digfferent reason for the closures andy hall cited algorithms, no longer as a fundamental manager compete with the computers you're seeing redempt