Odey Down 33.4 Percent YTD Holds Tight; Warns Of Major Recession Ahead

Crispin Odey’s flagship Odey European fund is currently in the midst of one of its worst years on record.

Odey’s OEI MAC fund, which invests in Odey’s European fund, lost 8.9% during April, according to a letter to investors reviewed by ValueWalk. This performance compares to the MSCI Daily TR Net Europe USD return of +2.4% and a MSCI Daily TR Net Europe GBP return of +0.5% for the same period.

Also see A Curated List Of The Best Hedge Fund Letters

Crispin Odey: China Bank Loans = Spain 2007

After taking into account this dismal performance, Odey’s OEI MAC fund has lost 30.5% over the past 12 months and 38.4% over the past three months. Year-to-date the fund is down...