(Bloomberg) Crispin Odey, the London-based hedge fund manager known for his bearish outlook, says new European rules on research will result in less trading, less price discovery and less efficient markets.
MiFID II should cause the cost of capital to rise because it will give different levels of information to people in the market, resulting in those with less access to analysis trading less, Odey wrote in a letter to investors.
Odey Sees ‘Terrifying’ Mix in MiFID, Tapering, Asset Values
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