Hugh Hendry, the hedge-fund manager who profited by betting against banks during the financial crisis, said he’s now speculating on a recovery in Japanese stocks as the nation’s policy makers maintain their policy of negative interest rates. “I’m presently buying upside call options on the Japanese equity market,” Hendry, the 47-year-old founder of Eclectica Asset Management said in a Bloomberg TV interview with Francine Lacqua. The money manager, who six years ago warned of a potential crash in China, is now more bullish on that nation’s prospects. “China doesn’t concern me. I think China, as it is demonstrating, has the power to move on without any catastrophic consequences in terms of having to re-value its currency,” he said.
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