Odey Blames Banks for Foiling Hedge-Fund Bears With ‘Fairy Dust’
- He cites lenders’ determination to save troubled companies
- Market veteran’s main fund has lost 66% in past three years
This article is for subscribers only.
It’s hard to be a bear these days.
Take Crispin Odey, whose main hedge fund has tumbled by two thirds in three years because of bets against the market. He blames his losses partly on banks that helped troubled companies to keep their own investments intact.