Crispin Odey "There Is Really No Place To Hide"

Quantitative easing is driving yield hungry investors into stocks, creating an asset bubble in valuations

After posting strong January performance, in his latest letter to investors Crispin Odey  has turned negative on the equity markets and quantitative easing, a theme initially expressed in an earlier letter. The one time bull has turned into a bear proclaiming that "this down cycle is likely to be remembered in a hundred years, when we hope it won’t be rated for 'How good it looks for its age!'”.

Crispin Odey’s OEI Mac fund, with nearly $11 billion under management, delivered 5.7 percent returns in January as active currency trading was positive, led by a...