Hugh Hendry: “Want to make real money? Make it in Japan”

“…But it is our contention that Japan's long spell in the sin bin has left its society particularly vulnerable to the charms of a radicalization of monetary policy. We reckon that with the pro-growth shocks of neo-mercantilism essentially having run their course, Japan will struggle to produce the incremental GDP necessary to service and repay its gigantic sovereign debt load. This will provoke inflationary price targeting by a politicized central bank that should send Japanese stock prices heavenwards once more.” – Hugh Hendry in his Eclectica Fund December 2013 Letter to investors.