Thursday, 21 August 2014
Last updated 21 min ago
Apr 21 2014 | 3:31pm ET
Crispin Odey did not mince words about the disaster that befell his Odey Asset Management in March.
The €1.7 billion hedge fund lost 7.3% last month, Odey told investors. “The reversal in fortunes has been swift and the destruction intense,” he wrote.
The decline left Odey down 4.6% on the year, cutting its exposure and long bets. “We are down to hand-to-hand fighting.”
Odey did not sound optimistic for a quick turnaround, warning that the “world economy could turn in many different ways.” He said his fund’s reversals were fueled by the “cold winter” in the U.S. and “little evidence of real growth” in Europe.
“Throw in an uncertain Russia and an invasion of the Crimea, and is it any surprise that the markets have been choppy.”
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note