Monday, 30 November 2015
Last updated 2 days 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.”
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…