Mr. Hugh Hendry's December commentary has been floating around the internet for a few days and I thought I'd share it with my loyal readers. As always his letters are an interesting read, seamlessly combining the literary and financial.
Hugh Hendry / Ecletica Fund December 2010 commentary
His main thrust is the monetary stimulus by central bankers is not enough to outweigh the massive consumer deleveraging going on right now. It is an epic tug of war and Hugh Hendry is on the side of further deleveraging and deflation (for now) Please read.