From Zero Hedge:
Hugh Hendry is back with a bang after a two-year hiatus with what so many have been clamoring for for so long –
another must-read letter from one of the true (if completely unsung) visionary investors of our time:
"I have not written to you at any great length since the winter of 2010. This is largely because not much has happened to change our views. We still see the global economy as grotesquely distorted by the presence of fixed exchange rates, the unraveling of which is creating financial anarchy, just as it did in the 1920s and 1930s. Back then the relevant fixes were around the gold standard. Today it is the dual fixed pricing regimes of the euro countries and of the dollar/renminbi peg."
In the letter, the most surprising insight from the perpetual contrarian is his almost predictable contrary view of the dominant investing meme at the moment. To wit...
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The best investment book you've never read
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