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Hedge fund tycoon Odey collects £1.7m from bet on Trinity Mirror slide

Independent UK – The hedge fund millionaire Crispin Odey was £1.7m richer yesterday after the arrest of four former Sunday Mirror journalists sent shares in owner Trinity Mirror tumbling more than 20 per cent.

Mr Odey took a £10m bet against the firm last November, although he told The Independent he “didn’t dislike the company”.

He said: “It looks like I’m a genius but I’m not – I’ve just got some fantastically good analysts. In a bull market you don’t like shorting shares, it’s a perfectly all right company but it had gone a bit far.”

Mr Odey, who said he might buy in again at the stock’s current levels, is worth around £455m, according to the Sunday Times Rich List. He is married to Nichola Pease, former head of the fund manager JO Hambro Capital Management and a Schroders non- executive director.

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