After Recent Losses Even Odey’s Long Term Gains Evaporate

After a relatively slow start to the year, last month Crispin Odey returned to form. During July Odey's OEI Mac strategy, which consists of the OEI, OEI Mac, and Odey Swan Funds, lost 10.3% compared to a return of 3% for the MSCI Daily TR Net Europe USD. After this loss, year-to-date the strategy is down 12.7%. And over the past 12 months, Odey's fund has returned -36.5% for investors, according to a recent letter to investors reviewed by ValueWalk.

London-based Crispin Odey made a name for himself betting against UK banks during the financial crisis. As the rest of the market fell, Odey produced huge returns for his investors' thanks to bearish bets with the OEI Mac strategy returning...