CNBC – High-profile hedge fund manager Crispin Odey, who made money last year betting on falling bank share prices, has been buying into UK banks recently because he thinks they are now so cheap.
Odey, who is founding partner of Odey Asset Management and manager of the 896 million euro ($1.1 billion) Odey European fund, said in notes to clients this month that the risk/return on UK clearing banks’ shares is now wrong and that over time these shares would do well.
