Tuesday, 22 July 2014
Last updated 1 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.”
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…