By Tom Winnifrith | Friday 13 December 2013
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Hugh Hendry is a very smart fund manager indeed and is a bear. His returns, on that basis, over the past twelve months, have not been very good. He has managed his risk to minimising the losses but there is no disguising the fact that he has suffered for being a bear.
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