The ACID Capitalist Podcast
Gonzo Finance!
Hugh Hendry is an Award Winning Hedge Fund Manager, Market Commentator, Thought Leader, St Barts Real Estate Investor & Surfer.
Full episodes are available at https://www.patreon.com/HughHendry and https://hughhendry.substack.com
Episodes
174 episodes
๐๐๐๐๐๐๐: ๐ ๐๐๐๐ ๐๐๐๐๐๐ ๐๐ ๐๐ ๐๐๐๐๐๐๐ ๐ ๐๐๐๐
๐ ๐๐๐๐ ๐๐๐๐๐ ๐๐๐๐๐๐๐ ๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐ ๐ ๐๐๐๐. ๐ ๐๐๐ ๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐๐ ๐๐๐ก๐? ๐ ๐๐๐๐ ๐ข๐๐ ๐๐๐๐ ๐๐๐๐-๐๐๐๐๐๐ ๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐๐๐๐ ๐๐ ๐ ๐๐๐๐-๐๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐'๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐, ๐๐๐๐'๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐, ๐๐๐ ๐๐๐ ๐๐ ๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐๐ข ๐...
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1:54:15
10x สษชแดสแดส แดส แด แดแดแด โ ๏ธ
A market story is only as good as the portfolio that can survive it. Hugh Hendry sat down in London to explore risk from first principles. Why playful, curious, even mischievous thinking can beat credentialed certainty, and how to build an allo...
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36:04
What If Markets Reward Vision More Than Math?
A faster lap by going blind sounds reckless until you hear Lando Norris say he drives better with the delta display switched off. Thatโs the spark for a bigger idea we explore: acid capitalism, where imagination and shared beliefs move markets ...
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1:15:59
What if AI cuts jobs faster than rates can fall?
Markets have a habit of choosing the path that hurts the most people, and this week they proved it. We open with a jolt: CarMax plunges 24%, the CEO is shown the door, and usedโcar demand looks like a classic pullโforward that left a hole in to...
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1:02:00
Is the Market Running Out of Money?
What if the cleanest read on market risk isnโt a sentiment index but the dollar itself? We connect the dots from DXYโs slide and rebound to the invisible gears of Eurodollar credit, showing how collateral breathes through trade invoices, repos,...
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1:21:20
A One-in-a-Thousand Market Moment
When logic fails, hedges break, and the models panic.Markets rarely behave. In this episode, Hugh Hendry unpacks why. Exploring what happens when models flash red and logic collapses in real time. From George Gammonโ...
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1:16:52
What If Government Debt Isnโt Debt at All?
The Ricardian Equivalence, Treasury Debt, and the Modernity of Money
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1:09:27
Do Deficits Make You Rich?
Do Deficits Make You Rich?The uncomfortable truth: fiscal stimulus creates wealth, not consumer inflation.Sat pondering in a Caribbean bar, thinking about intelligence, the Fed, deficits, and why inflation lives in Wall Str...
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1:31:54
When America Pretends to Be Reckless
In this acid breath of mine, I drift between the sublime and the sardonic. I trace how America, once the debtor, became the empire, how quantitative easing rewired the flow of wealth from the cautious creditor to the restless entrep...
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54:27
Copper, Gold and Trading the Fuzzy Cloud
I began with CPI, but as usual, I ended up somewhere between Beethoven and gold. The headline CPI 3%, core the same. The whisper was higher. The market calls it โGoldilocks.โ Not too hot, not too cold. I call it โNever be a dick for a tick.โ
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53:07
The Quantum Crisis: Gold, China, and the Trust Deficit in Markets
Perhaps the best, most revealing of this daily series. This is macro analysis as cabaret. The Japanese call it, rakugoka (่ฝ่ชๅฎถ), a man in kimono, I have no kimono, seated on a cushion performing poignant financial monologues. ...
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1:28:23
Did Gold Just Crashโฆor Reset?
สแด๊ฑแดแดสแด
แดสโ๊ฑ แดสแดแด
ษชษดษข ๊ฐแดสแด สษชแดแด แด แดษชสแดษขแด. แดสแด แดแดสแดแดแด สแดแดแดแดแด
แดแดสแด, สแดแด แดษดแด
แดส แดสแด ๊ฑแดส๊ฐแดแดแด แดสแดสแด แดกแด๊ฑ ๊ฑสแดแดแด๊ฑแดแดแดสแดแดษด แด
สแดแดแด.๊ฑแดแดแดแด๊ฑ แด
ษชแดแด
ษชษด แดสแดษชษด ๊ฑษชษขสแด แดกสษชสแด แดสแด ษชษดแด
แดx สแดสแดสส สสษชษดแดแดแด
. ษขแดสแด
แดสแดแดแดส๊ฑ แดแดษดแดษชษดแดแดแด
๊ฐแดสสแดแดกษชษดษข ษชแด๊ฑ แดสสแดแด ๊ฑษชษขแดแด แด
แดส,แดสแด แดษชษดแด
...
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50:14
The Real Pulse of Money: Gold, Bonds, and the Hidden Trade
October 21st, no fanfare, just me and my thoughts. I have been on X all day, and only later realized gold had fallen sharply. Some people thought I had timed my comments to take gold down, as if I could move the market. It made me laugh....
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Season 1
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1:08:19
Acid Breath: Why Everythingโs Going Up for the Wrong Reason
Creativity, Chaos, and the Signals That MatterGold's ripping, stocks are ripping, but this isn't a hedge, it's a hallucination. In today's episode, I break down the paradox of rising fear assets and euphoria trades mov...
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1:05:41
Acid Breath: Any Fool Could Make Money in Gold
Any Fool Could Make Money in GoldBut Only a Lunatic Could Explain It Like ThisThe lights flicker but they don't go out.Today I tracked the silence. No CPI, no jobs print, no retail sales. The government is shut. The market ...
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Season 1
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Episode 16
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1:05:35
Acid Breath. Inside the Macro Storm: Fed Policy, TSMC Earnings, and the Next Credit Crunch
Thereโs a smell in the air, that faint electric tang before a storm. The markets are choppy, the screens green and red in alternating flickers, and behind it all you can almost hear the static of something old returning.In this episode o...
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Season 1
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Episode 15
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45:05
Acid Breath: The Bank of the Sopranos & Unlocking Gresham's Law
ARM Ascends, Oil Drifts, Queens EnduresI open on macro static and shutdown fog, a strange steadiness where the market beat goes on. The Beige Book whispers fractures, three Fed districts up, five flat, four softening, a recalibration mor...
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45:36
Acid Breath: The Gold-Oil Puzzle
A market meditation disguised as weather report, part Fear and Loathing, part BBC Shipping Forecast. Markets drift in a haze of caution and theatrical boredom. Bankers profit without joy, express bubble caution<...
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Season 1
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Episode 12
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32:02
Acid Breath: The Day Silver Spoke and AI Went Industrial
The Day Silver Spoke and AI Went IndustrialThe age of abundance is over: compute, energy, and silver say so.Acid Breath Daily is Hugh Hendryโs financial freak show : a daily dive into markets where logic wrestles madness ...
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Season 1
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Episode 11
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1:07:22
Acid Breath - Rare Earth - Fri 13 October, 2025
Todayโs Acid Breath is a descent into the machinery behind the marketโs tremor. Tariffs ignite, rare earths reveal their dirty chemistry, and Americaโs clean hands look suspiciously like Walter Whiteโs gloves. Are we about ...
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Season 1
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Episode 10
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37:47
Acid Breath - Shadowlight - 9th October 2025
ShadowlightA new inflation priesthood grabbed the pulpit. With officials offstage, a retail outfit called OpenBrand dropped a fresh CPI and the press sang hymns.I torch the cosplay, then hold up the mirror. In markets, any ...
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Season 1
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Episode 9
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35:17
Acid Breath - The Deal - 8th October 2025
Day eight of the shutdown, no data, no scoreboard, just thunder over St Barts and my voice in the dark. The Philly Fed whispers life and the Fedโs month-old minutes somehow steal the show: dovish, nervous, and oddly triumphant. ...
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Season 1
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Episode 8
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47:18
Acid Breath - Kobayashi Test -7 October 2025
Acid Breath - Kobayashi Test - 7 October 2025Government shut, data feed dead, and the market is whispering its sins. I open todayโs Acid Breath by reading price as confession, not scripture. Regional banks are mating for surv...
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Season 1
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Episode 7
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1:02:26