Crispin Odey Having A No Good, Very Bad March

Trouble at Poultry Manor!

The metaphorical chickens have come home to metaphorically roost.

A little less than a year ago, Crispin Odey was bemoaning a 19% April drop. “Nobody likes being wrong. Nobody likes looking foolish,” he said. (And this from a man who built an ersatz Greek temple to house his chickens.) “Nobody likes losing money.” Crispin Odey may not like any of these things, but he certainly must be getting used to them, as they are becoming something of a biannual event. After nearly erasing his early ’15 mensis horribilis, Odey went and lost 16.8% in the first 16 days of October on his way to a 12.8% drop for the year. And this month, he’s managed to outdo even that.

Crispin Odey’s main hedge fund lost 22 percent during the first 14 days of March and is on course to record one of its worst monthly performances, according to two people with knowledge of the matter.

The loss leaves Odey European Inc. fund down 25.5 percent this year through March 14, the people said, asking not to be identified because the information is private.

It seems a basilica to house his dairy cows will have to wait.

Odey’s Hedge Fund Said to Plummet 22% in First Half of March [Bloomberg]


UK Hedge Fund Manager's Chickens To Maintain The Lifestyle They've Grown Accustomed To In 2013

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.