Billionaire vocal fund manager Crispin Odey built his reputation by successfully predicting the financial crisis and profiting as the value of UK bank stocks collapsed during 2008 and 2009. Today, however, Crispin's reputation has been tarnished by his decision to short the market and go all-in on gold. So far this year the hedge fund's flagship hedge fund is down about 40% after a 15% loss for 2015.
Crispin is convinced that the markets are overvalued and there will soon be a correction that could see the UK's leading FTSE 100 index fall by as much as 80%. Only time will tell if this is an accurate prediction of just scaremongering.
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