If pushed i would have guessed Mr. Ody would fold first but he's a obstinate cuss.From the Wall Street Journal, Aug. 7:
We have been dubious of the adoration given to Hall for a decade now, some links below.
As to Odey he may still be forced to sell the manor and move into the Palladian chicken coop but for now, he persisted....
Assets under management at Odey's hedge fund firm have fallen below $6bn
Crispin Odey, one of Europe’s best-known hedge fund managers, ran up a 10% loss in one of his hedge funds last month, in what is fast turning into a bad year for some big-name managers.
The European fund run by Odey, founding partner of London-based Odey Asset Management which manages $5.9bn in assets, experienced a 9.8% fall in its net asset value during July, according to an investor document seen by The Wall Street Journal. The fund is down 12% in the year through July.
Odey’s European fund was once one of the biggest in the sector, worth billions of dollars in its own right, though some investors withdrew their cash after poor returns in the past two years. According to an April letter to investors, the fund held just under $900m in assets at the end of March.
A spokesman for Odey declined to comment.
Odey, a veteran trader who made millions betting on a recovery in Barclays in the immediate aftermath of the financial crisis, has fared less well in recent years as his bearish views have failed to pay off in rising markets.
The latest poor performance stems in part from bets on falling stock prices, particularly in the US, where the Dow Jones Industrial Average rose above 22000 for the first time last Wednesday. Odey’s fund has also bet against stocks such as Tullow Oil, which climbed 13% during July, and specialty insurer Lancashire Holdings , which rose 6%, according to the investor document. The fund was positioned against the British pound, which climbed against the dollar, and against gilts, which also rose....MORE