Fresh off 24% return in March, Odey evoking Adolf Hitler says the pain is just starting

Odey Asset Management was up 23.6% for March, bringing its year-to-date return to 10.6%. In his March letter to investors, which was reviewed by ValueWalk, Crispin Odey looked much further back in history than 2008 for a comparison to the current crisis.

He said the coronavirus pandemic will trigger a decline in global GNP for 2020 that's along the lines of what was seen in 1931 and 1932. He also noted that the crisis that emerged during the Great Depression set the stages for Adolf Hitler to take over Germany.

Incentivizing the right behavior

Odey pointed out that the service sector is being hit especially hard by the COVID-19 pandemic. Individuals and businesses in...