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Hugh laments on the things he didn't see as clearly in 2004, as he does now. There's a warning from someone who's experienced it - if you're anointed an investment god, don't get too high on your own supply. And an article from The Financial Times is eviscerated for forewarning the coming power of digital currency.

Hedge Fund pirate Hugh Hendry and co-host Chris Sweeney chronicle the inner workings of the uncorrelated and legendary Eclectica Fund. The boys use Hugh's monthly client letters as a Hedge Fund boot camp to reveal what he was thinking and why he made the decisions he did, in real time. No new Hedge Fund wannabee can afford to miss the journey to the present day where Hugh reveals and expounds upon his latest macro insights. 

This week there's also chats about The Beastie Boys, Swedish discount retailer Axfood, the power of a third, how price-to-sales works as a value metric and how one of Hugh's former colleagues fled Iran stitched inside a sofa.

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