Odey’s Hedge Fund Slumps 49.5% in Worst Ever Annual Loss
- Crispin Odey’s bearish bets suffered as stocks surged in 2016
- He was one of the market’s most prominent backers of Brexit
Crispin Odey's Hedge Fund Suffers 49.5% Loss
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Crispin Odey’s main hedge fund slumped 49.5 percent in 2016, its worst annual decline since it began trading in 1992, according to an investor letter.
The billionaire, who last month complained that “mindless” passive investing was driving out active fund managers, saw his bearish bets against stocks suffer amid a surge in equities. His Odey European Inc. fund lost 3.4 percent in December, the letter shows.