The Acid Sex Tapes - Confessions of a Hedge Fund Manager

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May 13, 2025

Dive into wild financial tales from a hedge fund rookie navigating a volatile market. Experience the thrill of unconventional bets, like his audacious short on the dollar. Discover the allure of Amsterdam Commodities—cheap, opaque, and surprisingly rewarding. Reflect on the post-dot-com lessons learned amidst market chaos, emphasizing the power of contrarian thinking and instinct over conventional wisdom. Brace for a blend of finance and humor, as personal anecdotes add spice to the high-stakes world of investing.

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ANECDOTE

First Big Bet: Shorting Dollar

Hugh placed his first big bet shorting the dollar in 2002 when it was strong at 110.
The dollar later dropped to 70, proving his contrarian instinct correct while others doubted.

INSIGHT

Waiting For The Storm

Hugh describes his fund Eclectica as built for investors who wait for storms instead of chasing them.
He highlights market madness as something that doesn't knock but sneaks in cunningly requiring hunger and instinct.

ANECDOTE

Amsterdam Commodities Research Trip

Hugh visited Amsterdam to research a small commodities firm with no website or research coverage.
He was drawn to its obscurity and odd charm, sensing it matched the commodity cycle shift he anticipated.

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Wild bets, hot streaks, and a little market seduction.

The acid capitalist is back, sunburnt and shirtless, broadcasting straight from St. Barts with sand in his toes and a dollar short in his hand. This is Confessions Part II, the origin story sharpened, scuffed, and refitted for today’s volatility junkies. If finance had a Tarantino cut, this is it.

We rewind to the end of 2002. The Nasdaq’s wreckage still smoldering. The S&P up 9 percent. Me? Flat for the month, down 4.9 percent since launch. A hedge fund rookie trading like he’s strapped to a rocket and reading tea leaves in reverse. There were no parades. No consensus. Just my gut, and it was twitching.

I placed my first real bet, short the dollar. The Dixie was at 110. Five years later, it would bleed to 70. Back then, they laughed. Now they squint at the same charts, claiming they saw it coming. They didn’t. But I did. Commodities stopped dying. Gold stopped bleeding. Something turned. And I felt it.

This episode isn’t about P/E ratios. It’s about instinct. Rage. Faith. Hunger. It’s about building Eclectica not as a fund but as a fever dream. I didn’t chase storms. I waited for them. I didn’t knock. I picked the lock. That investor? That was me.

We talk Amsterdam Commodities, no website, no pitch deck, no interest in seduction. It smelled of hash and history. It was cheap, opaque, and irresistible. And it hit. Like a ten-bagger. Like something better than sex. No, seriously, would you rather have a one-night stand or a tenfold return on your weirdest position?

Oh, and then there’s Brazil. The one that ghosted me. The stock I dumped, live, while staring through the glass of their too-polished HQ. They didn’t show me respect. So I showed them the door.

This is the cockpit view of macro. Of madness. Of the market as mythology. No suits. No soft landings. Just you, me, and a twitch in the eye of the storm. Press play.

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