Odey has upped the ante for poultry accommodation – he’s building a temple for his chickens for which the stone alone costs £130,000…The temple’s roof – adorned with an Anthemia statuette – will be fashioned in grey zinc; the pediments, cornice, architrave and frieze are in English oak; and the columns, pilasters and rusticated stone plinth are being hewn from finest grey Forest of Dean sandstone. Naturally, the doors will be painted in the Odey Asset Management founder’s favourite Hague Blue – “to match the doors around Eastbach Court”, according to the plans…“The temple will be a lovely place when it is finished at the end of the year,” Odey said from a grouse moor. “The chickens will be grand.” — Telegraph, September 25, 2012
Early on in hedge fund manager Crispin Odey’s relationship with his chickens, he made them a promise, about the things he’d do to make them happy. “I’ll move heaven and earth,” he told them. “You’ll be the envy of all the other chickens in the UK. Anything you want, anything you desire, will be yours.” And while a lot of people make similar pledges at the beginning of romances, when things are all heady and you can’t bear to be apart for any period of time, Odey kept his word. By 2012, his chickens were leading the kind of life most fowl wouldn’t dare dream of. Still, there was one thing Odey hadn’t given them, one thing he hadn’t gone the extra mile for. The chickens kept their feelings to themselves for as long as possible and then one night, while they were all watching a documentary about the Taj Mahal, they couldn’t keep their feelings inside any longer. Read more »
Back in 2009, over a dozen NHL players, then current and former, sued golf resort developer Ken Jowdy for taking their $25 million investment in a Mexico property that never materialized, and allegedly spending the money on “lavish parties that included various female porn stars, escorts, strippers [and] party girls,” thrown “to impress ex-baseball players Roger Clemens, Reggie Jackson, Pete Rose, and ESPN announcer Joe Morgan,” in addition to paying himself a salary of $800,000/year and putting his brother-in-law on payroll, for no discernible reason, at $650,000/year. Although the lawsuit was ultimately dropped, the government had begun to investigate the situation and started to suspect the players’ money manager, a guy named Phil Kenner (who, according the Daily News, “billed himself as a lifestyle coach“). Four years later, even has the lawsuits by former clients rack up and the FBI investigation is said to continue, Kenner maintains his innocence. To that end, he recently spoke with Fortune reporter Katie Benner in an attempt to clear his name. Do people have it all wrong about him? Are the allegations he defrauded investors patent bull shit? We have no idea but one thing not exactly helping Kenner’s cause re: being an upstanding and not at all shady individual? Telling this story… Read more »
What motivates a hedge fund manager to continue busting his ass to churn out profits year after year, once he’s already amassed a fortune most people can’t even fathom, when he could easily pack it all in and live more than comfortably without ever working another day? For some, it’s the thrill. For others, it’s the trophy’s wife’s shoe habit. For Crispin Odey, it’s the chickens.
The Odey Asset Management founder (and sausage brand ambassador)’s got a mess of high-maintenance ones and earlier this year, had architects draft blueprints of a “Palladian-style” mansion he intended to build them (seen at left), replete with a grey zinc roof, “pediments, cornice, architrave, and frieze in English oak,” and columns “hewn from the finest grey Forest of Dean standstone.” After finishing 2011 down 20.3%, things were no doubt more than a little tense over in Herefordshire, where questions of whether or not construction would have to be halted, or if they’d have to make the switch to [whispers] generic-brand feed. Certainly a moment of panic swept over Odey each day when he returned home, wondering as he turned the knob if he’d be entering an empty house, the chickens gone and a note explaining they couldn’t do this anymore on the fridge. Ran off with the general contractor because what was the point of shacking up with a money manger if the money wasn’t there? Luckily for all parties involved, it won’t have to come to that; according to Bloomberg Markets’ annual ranking of the top performing hedge funds, performing under pressure is one of Odey’s specialities. Read more »
“A friend of mine is actually the largest owner of agricultural land in Uruguay,” said the hedge fund manager. “He’s a year older than I am. [My fund] is somewhere [around] the 15th-largest farmers in America right now.”…When asked if this is an end-of-the-world situation, the hedge fund manager replied: “It really is. I tell my fiancée this from time to time, and I’ve stopped telling her this, because it’s not the most pleasant thought.” He pauses for a moment. “We just can’t keep living the way we’re living. It’ll end within our lifetime. We’re just going to run out of certain things. We’ll just have to learn how to adjust.” [NYO]
If you’ve been dying for a while to see the Steamroller and Dick Grasso battle each other for the job of running NYC but never told anyone about it because you felt silly, given that it will never happen, you’re not alone: reporter Charlie Gasparino, too, would love such a match-up and despite being told Ashley Alexandra Dupré vs Gary Busey would have a better chance of coming to fruition, can’t help himself. He’s decided to put it out there, today, Secret-style, in the hopes the universe will give it back to him. Read more »