Odey Recovers In May But Assets Down $600M After Bloody April

After expressing his bearish outlook for the year in the last quarterly letter, we have more pessimism from Crispin Odey via his latest monthly letter. The Odey European fund grabbed a 5.2% return in the month of May after falling by a drastic 19.3% in April, according to a letter to investor reviewed by ValueWalk.

At the end of May, Odey Asset Management's flagship strategy had a total loss of 13.9%. Odey's poor performance has put it among the worst performing hedge funds of 2015, according to HSBC Hedge Weekly's latest update.The loss in April was Odey European's largest intra-month decline since inception in 1992.

Odey's massive bearish wager on equity and...

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