Follow @PoliticsIE
 
 
 
Page 1 of 2 12 LastLast
Results 1 to 10 of 20

Thread: Professor Stiglitz V Cocky Hedge Fund Manager - Newsnight

  1. #1

    Default Professor Stiglitz V Cocky Hedge Fund Manager - Newsnight

    Hugh Hendry shows no awe for the renowned Professor on last night's Newsnight. As rude as this glib investor is he does speak a lot of sense and addresses the elephant in the room, Debt.

    All is in this clip, so don't worry about Part 1

    Last edited by Cassandra Syndrome; 15th September 2011 at 12:04 AM.
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

  2. #2
    Politics.ie Member powderfinger's Avatar
    Join Date
    Jun 2007
    Posts
    3,354
    Mentioned
    0 Post(s)

    Default

    Hugh Hendry states his case clearly and puts his money where his mouth is Cassandra Syndrome.He comes across as abrasive,as if that matters. Hendry offered a contrarian unapology for hedge funds in an open letter,published last week.
    He pulled no punches.

    You don't know me; we've never met. But I fear you are being encouraged to dislike me. Let me explain: I'm a speculator. I manage a hedge fund. Apparently I profit from your misery. Accordingly, our political leaders are keen to see the back of me.
    Only yesterday, Germany and France were calling for the "fastest possible" adoption of new rules to put an end to financial speculation. But before you write me off I ask that you listen to my side of the story.
    We hedge fund managers are on your side - Telegraph

  3. #3

    Default

    Quote Originally Posted by powderfinger View Post
    Hugh Hendry states his case clearly and puts his money where his mouth is Cassandra Syndrome.He comes across as abrasive,as if that matters. Hendry offered a contrarian unapology for hedge funds in an open letter,published last week.
    He pulled no punches.

    We hedge fund managers are on your side - Telegraph
    Yes I agree. As you can see in my OP. I'm not chastising Hendry.
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

  4. #4
    Politics.ie Member powderfinger's Avatar
    Join Date
    Jun 2007
    Posts
    3,354
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by Cassandra Syndrome View Post
    Yes I agree. As you can see in my OP. I'm not chastising Hendry.
    I see that.
    The kernel of Hendry's position below.
    Fearing that the huge scale of reckless bets within the banking system threatened another depression, our politicians have used public funds to bail out the economy's losers. And in doing so they run the danger of creating a plutocracy: a society ruled by the wealthy. Consider that fact that in Latvia school teachers have had to take a 35 per cent pay cut so that the Swedish banks who funded the real-estate bubble are repaid their imprudent mortgages.
    We need to stop this socialisation of risk taking: heads I win, tails you lose. Consider the American government's enormous bail out of the failed insurer, AIG. According to the world's largest bond fund manager, Bill Gross, it is perfectly acceptable for the taxpayer to subsidise his returns. As he explained it to the investment magazine Barons: "All I'm saying is the government would lose almost $50 billion if it decides AIG no longer is worth supporting. It is a game of chicken. You either call the government's bluff or you don't."

  5. #5

    Default

    Look back at that video clip and see how much in denial and how clueless the policy makers are. Hugh Hendry was spot on.
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

  6. #6
    Politics.ie Member
    Join Date
    Jan 2008
    Posts
    650
    Mentioned
    0 Post(s)

    Default

    Hendry is spot on ,and I love the bit in the other video when he calls the boyos champagne socialist dunderheads.
    Quote Originally Posted by Cassandra Syndrome View Post
    Yes I agree. As you can see in my OP. I'm not chastising Hendry.
    A champion of the people emerges with the age-old and appealing promise of "something for nothing" - to be financed through every-increasing taxes. Supply and demand are thrown out of gear - the overhead goes up; the effective use of human energy goes down; the standard of living is lowered because money cannot buy wealth that is not produced.

    WEAVER, HENRY GRADY,

  7. #7

    Default

    Quote Originally Posted by atlantic View Post
    Hendry is spot on ,and I love the bit in the other video when he calls the boyos champagne socialist dunderheads.
    Yep. I surprised the BBC invited him. He was proper right to be cocky, knowing the full extent of the debt problem. Stiglitz looks so dumb retrospectively.
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

  8. #8
    Politics.ie Member
    Join Date
    Jan 2008
    Posts
    650
    Mentioned
    0 Post(s)

    Default

    The man lives in the real world where he knows that risk can make or break him, not unlike any business small or big.The three tit sucking arrogant nannyists ,socialistic jackasses live in the cosseted world of spending other people's money with no accountability, taking no risk and getting paid by their little serfs the taxpayer.
    Quote Originally Posted by Cassandra Syndrome View Post
    Yep. I surprised the BBC invited him. He was proper right to be cocky, knowing the full extent of the debt problem. Stiglitz looks so dumb retrospectively.
    A champion of the people emerges with the age-old and appealing promise of "something for nothing" - to be financed through every-increasing taxes. Supply and demand are thrown out of gear - the overhead goes up; the effective use of human energy goes down; the standard of living is lowered because money cannot buy wealth that is not produced.

    WEAVER, HENRY GRADY,

  9. #9
    Politics.ie Member Hillmanhunter1's Avatar
    Join Date
    Jan 2009
    Location
    Far far away
    Posts
    1,614
    Mentioned
    0 Post(s)

    Default

    Hendry is a jackass, or, to be anthropomorphically more precise, he is an arbitrage monkey. He clearly has no understanding of fiat money, nor of the legal and economic framework of monetary union. He may be right to say that greater attention needs to be paid to debt levels, but lets not forget that this guy makes a very comfortable living by fomenting volatility, and profiting from the misfortune of others. He wants Greece to default, he wants the Euro to fail, he wants stock markets to crash, because theres no great fortunes to be made in stable, predictable markets. He is not an investor and is not interested in creating and maintaining something of value.
    UK exports to EU = 48%. EU exports to U.K. = 8 %. RoI exports to UK = 14%. RoI exports to EU = 50%.

  10. #10

    Default

    A jackass he may be. Put he was still spot on. The so called experts look so stupid as usual. I love looking at the old clips of Bernanke in denial over the past 4 years. Or Jim Cramer or Mike Norman and all the other Snakeoil salesmen.
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •