New York (HedgeCo.net) \u2013 HedgeCo.net featured a story about Crispin Odey\u2019s main hedge fund back in May that discussed the fund\u2019s loss of 19.3% in April. The fund was betting against emerging markets and it took a huge hit on Plus500 Ltd, where they were the single largest shareholder. It seems the tides have turned now as Bloomberg reported that the Odey European fund is up 9% this month. <\/p>\n
Odey maintained their bearish bets on China and they are now reaping the rewards as the Shanghai Composite Index has fallen over 19% so far in the month of August. The drop has allowed Odey to trim what was a year to date loss of 18.2% down. According to the Bloomberg article the fund was only down 5% as of Monday. With continued selling on Tuesday, the fund likely made up more ground.<\/p>\n
Odey\u2019s firm manages approximately $12.8 billion with $3.2 billion of that in the flagship Odey European Fund. Odey predicted in July that a devaluation by China would lead to deflation breaking out around the world and that China\u2019s economic problems would spread globally.<\/p>\n
Rick Pendergraft
\nResearch Analyst
\nHedgeCoVest<\/p>\n","protected":false},"excerpt":{"rendered":"
New York (HedgeCo.net) \u2013 HedgeCo.net featured a story about Crispin Odey\u2019s main hedge fund back in May that discussed the fund\u2019s loss of 19.3% in April. The fund was betting against emerging markets and it took a huge hit on […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048],"tags":[],"class_list":["post-49729","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news"],"_links":{"self":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/49729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=49729"}],"version-history":[{"count":1,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/49729\/revisions"}],"predecessor-version":[{"id":49730,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/49729\/revisions\/49730"}],"wp:attachment":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=49729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=49729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=49729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}