ZH: Dec. 31, 2014
Hugh Hendry Embraces Central Planning (For Billunaires)
"There are times when an investor has no choice but to behave as though he believes in things that don't necessarily exist"
"In the long run we will come to rue the central bank actions of today"
"China is set to record its weakest growth in GDP in 25 years. Yet it seems to have entered a bull market and may be where we deploy much more of our risk capital next year. That's because the recent exuberant run up in onshore Chinese equities seems to me to amply demonstrate the power of imagined realities."
Shanghai Composite with S&P