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Macro Confessions Part XX III (November 2005) This week the boys kick back. Inspired by Jeff Bezos, and his recent jaunt to St Barts, Hugh reveals his 20 hour fast and avocado regime. He believes that longevity and contrarian investing are bedfellows. Chris shakes his head in disbelief.

The conversation is fast paced. Chris has his runner's legs on and wants to know more about what's knocking the capital markets this week. Bonds, not James but the ongoing disturbance in the US Treasury market are discussed. Better to construct an inventory of ideas than trade a market whose long-term trend has yet to change course, cautions Hugh. Check your premises!

No new Hedge Fund wannabee can afford to miss this journey from the past to the present day where Hugh reveals his latest macro insights and explains how sometimes he outwitted the market's smartest minds.

This week they take on The Raiders of the Lost Ark, via Cathy Wood's flailing tech fund, and ask why markets generate mysticism to create retail super-star managers and why their unwieldy funds often hit the skids.

Shorting is this week's focus. Why do it? The epic short squeeze of Volkswagen in the midsts of the chaos of October 2008 is explored. Hugh shares his November 2005 Eclectica investment letter to lavish praise on John Armitage, a legendary British hedge fund manager who stopped shorting entirely. The cautionary tale of AW Jones, the manager who first brought  L/S strategies to the public's attention, is examined. You wont believe the paradox of what befell him in 1969.

No one is spared. Hugh loved Ken Fisher's book Superstocks but less the man himself. The gloves are well and truly off and at the end Hugh confesses that he's starting to see a re-awakening in the gold sector. Really? Is that possible?  Chris' insatiable curiosity remains dialled to the max.

 Tune-in or be square...

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