Crispin Odey had a rare good month in October, according to an investor letter seen by ValueWalk. The outspoken investor's flagship Odey European, which has struggled to hold on to assets this year, produced a positive return of 2.3% for investors, beating its benchmark (MSCI Daily TR Net Europe) return of 2% for the month.
Unfortunately, these gains have hardly made a dent in the year-to-date losses. The hedge fund has lost 13.4% year-to-date, underperforming its benchmark by 25.1% and taking losses over the past three years to 55.2%, an underperformance of 81.4%. Still, since the fund's founding in 1992, Odey European has beaten its MSCI benchmark by 0.6% annualized.
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