Is the tide turning for Odey the Brexiteer? - part 27
Hacks at trade rag Financial News dug up a rare piece of good news from Odey Asset Management, the hedge fund firm run by charming Brexiteer Crispin Odey.
The Odey Absolute Return Fund - which is managed by a chap called James Hanbury - is actually doing rather well. According to the FN report, Hanbury's fund is up 11.2pc this year. Below is a link to the FN piece if you want to read all the detail:
Meanwhile, the last time Betaville checked the HSBC hedge fund index, Crispin Odey's flagship Odey European Fund was down about 14pc.
Still, that hasn't stopped Odey, whose fund lost almost 50pc last year, from doubling down on the bearish bets that have lost him and his clients a ton of money over the last couple of years, according to Bloomberg. In a recent letter to investors obtained by Bloomberg Odey wrote:
“Having called these markets down in 2015, my record on such calls is not good. However, the idea that we will continue along the lines of the last 10 years looks a dangerous starting point for strategic thinking.”..