"I cannot look at myself in the mirror," says Hendry at an investor conference. "Everything I have believed in I have had to reject. This environment only makes sense through the prism of trends."
"I have been prepared to underperform for the fun of being proved right when markets crash. But that could be in three-and-a-half-years' time."
Fully aware he may be ringing a bell as the last bear to throw in the towel, he tells the audience it would be well within its rights to sell. But for now: "Crashing is the least of my concerns. I can deal with that, but I cannot risk my reputation because we are in this virtuous loop where the market is trending."