Nov
02
Hedge Fund Manager Odey Says U.K. Stocks Could Plummet 80%
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Odey says the country will face recession, higher inflation
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Investor’s main hedge fund has slumped 43% this year
Crispin Odey, whose main hedge fund has lost about 43 percent this year, says U.K. stocks could slump 80 percent as the economy is roiled by a recession and higher inflation following the vote to leave the European Union.
Shares will come under pressure after the FTSE 100 share index climbed 30 percent over five years even as earnings fell by 80 percent, the money manager said in a letter to investors last week seen by Bloomberg News. Odey Asset Management has short positions — bets the stocks will fall — in companies including Tullow Oil Plc, Intu Properties Plc, and ITV Plc…
Hedge Fund Manager Odey Says U.K. Stocks Could Plummet 80%
