Crispin Odey Says Stock Market “Has The Walk Of A Drunken Man”

The markets have almost reached Crispin Odey’s promised land, says the fund manager who has been waiting for a crash. As one of England’s wealthiest men looks “uncomfortably” at the stock market since the Trump election, he sees “the walk of a drunken man.” In the Odey International Fund June letter to investors, Odey looks at forgotten business cycles, falling corporate sales amid rising stock prices and central banks working in reverse.

Odey: Auto industry in recession, Apple Computer stock is rising on P/E multiple expansion

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June’s loss in the Odey International Fund, down -0.39%, was encouraging from at least one...