Followers of little old Betaville's work might have noticed last weekend's front page business story in the Mail on Sunday's business section about The Analyst's bearish view on Deliveroo. Below is the link in case you missed it:
Posts tagged: Odey
So, according to Bloomberg, Crispin Odey's uber-bearishly positioned fund is already up by 20pc this month.
Now, it would be easy to take pop at the old cassandra for shorting the market into a public health crisis but the thing is he has been directionally short for the last four years and, as a result, suffered excruciating losses over the last five years...
Yes! - seems to be the definitive answer to the question posited in the headline of this near 40 part series of stories.
In part, that's because Crispin's flagship Odey European fund finished the year top of the HSBC rankings with a gain of over 50pc.
Also, the charasmatic hedgie's "bear" thesis appears to now be playing out in world markets although not quite yet in its entirety of predicted doom...
Below is what the charming Crispin Odey wrote in his latest report to investors.
It's rather short (typically his missives are at least a 1000 words longer) and somewhat abstract. I guess that's what happens when you have a terrible year (last time I checked poor old Crispin was down around 43pc year to date)...
Things have gone from bad to worse for the charasmatic Crispin this year. It's clear the Brexit bounce (following the market sell off) for his flagship European fund was only temporary and now he is down 29.2pc (according to the latest investment letter seen by little old Betaville).
Still, what's impressive is that rather than capitulating Odey is backing his overall bearish outlook by sticking most of his fund in gold. Punchy!..