Alternative Thinking on Brexit Gains, Brexit Losses and CNBC’s Booking Schedule

Jun 27 2016 | 12:53pm ET

“What a day.”

That’s Crispen Odey, London-based hedge fund manager and the founding partner of Odey Asset Management, talking about the Brexit.

As The Wall Street Journal explains, Odey publicly backed Britain’s departure from the European Union and that he “set up his $10 billion firm accordingly.”

Writes Rob Copeland: “Mr. Odey’s flagship hedge fund gained 15% on Friday, paring half its loss for the year, a person close to the matter said, helped by wagers on havens like gold as investors sought stability.”

What a day, indeed.

“My gut is that today is not the worst day for hedge fund performance — it’s probably at some point in the coming weeks.”

That’s Ryan Tolkin, CIO of Schonfeld Strategic Advisors.

Though the Financial Times highlights the wins of Crispin Odey and Marshall Wace, it’s the warning from Tolkin about challenges for hedge funds that hits home in this piece.

"With oil prices remaining low, buyers’ views on assets are lower than those of the sellers. But we are likely to start seeing some forced sales of assets, or transactions coming in lower than sellers would prefer."

Rakesh Upadhyay at OilPrice.com writes that private equity firms are getting ready to jump back into the oil business.

“Younger buyers tend to support contemporary artworks. If one is investing a substantial amount, then, it is safer to opt for works by established artists.”

This week, we’re highlighting a number of different alternative assets at a time that investors are dealing with the Brexit aftermath.

Today, artwork.

The quote is from Puneet Shah of Akara Art gallery, Mumbai.

Money Control offers a macro-look at the art industry and provides some insight on how and where to purchase artwork as an alternative investment.

"At a certain point, you can't substitute your judgment entirely for your stakeholders, and so you have to try to filter in the feedback and make your decisions accordingly."

Finally, that’s Erin Callan.

Yes, the Erin Callan--.

As everyone was trying to not defenestrate their trading terminals after the bell on Friday, there was a capital reason to throw the television out the window instead.

You’re about to experience Peak CNBC.

The network gave Callan a few minutes to plug her new memoir and wax insight about the similarities and differences between the 2008 financial crisis and the Brexit.

Toward the end of the interview, Callan started talking about what she learned from her time at Lehman Brothers and in the years that followed its collapse.

She proceeded to list several things an entry level analyst should already know before stepping foot into an investment bank… let alone before becoming the CFO of one of the world’s largest financial institutions. Read the interview…


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