For A Man Who’s Fund Is Down By Half Over The Last Three Years, Crispin Odey Is Positively Giddy

Who even remembers 2015 through 2017?
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When last we heard from Crispin Odey, he was proclaiming to Financial News that he’d “wasted” the last three decades of his life “making money” when he should have “become politically involved again.” While he quickly walked that last bit back, FN promised that Odey’s abortive run for Parliament was only part of its chat with the hedge fund industry’s most outspoken fowl fancier. Take it away, Crispin.

CrispenOdeyHEnHOuse

“I'm the best performing fund in the world at the moment,” he says. “How much better can it get?”

While it’s true that Odey’s flagship European Fund is up by 25% this year, a more uncharitable blogger might suggest that it could be better if he hadn’t lost double-digits in each of the previous three years, and if consequently his three- and five-year returns weren’t “lost half my investors’ money.” But Odey’s being plenty uncharitable himself, both to himself and others, although he sure does have a spring in his step about it.

“I'm having a great year but have had some horrible years before this,” he said….

“I got it very wrong in 2016 when I thought the world was coming to an end,” Odey admitted. “The opposite happened!”…

The Financial Times reported last June that Odey has “in effect bet his entire fund on a spectacular market collapse”. “The FT is wrong on everything!” he replied….

Odey is especially scathing of former Prime Minister David Cameron: “Once you met David, you realised he was going to do absolutely nothing. He was so unbrave.”

But enough about people who aren’t him.

“We are good investors…. Invariably with these things you have two years up and two years down.”

Not to quibble C.O., but it’s actually been three up years and three down years, although I guess that’s good news for those clients who took a bath from 2015 through 2017 and plan to stick around through 2020.

Crispin Odey speaks: ‘How much better can it get?’ [FN]

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