Odey Hedge Fund Said to Drop 17% in 16 Days as Markets Rally
- Plunge said to put main strategy down 17.4% for the year
- Odey European said to have increased 7.6% in September
This article is for subscribers only.
Crispin Odey’s flagship hedge fund plunged 16.8 percent in the first 16 days of October, reversing a September gain that had pared its losses for the year, according to a person with knowledge of the situation.
The loss by Odey European, a $1.4 billion fund betting on rises and declines in stocks, brings the drop for the year through Oct. 16 to 17.4 percent, said the person, who asked not to be identified because the information is private. The fund profited in August and September from Odey’s negative view of the Chinese economy.