Down In February, Odey Sees Market Crack Coming… Again

With the S&P 500 up 5.6% to end the first quarter of 2016, the Odey Odyssey Fund, down -7.2% year to date as of the end of February, is playing a painful waiting game. Odyssey portfolio managers Tim Bond and Dipankar Shewaram, in a letter to investors reviewed by ValueWalk, are walking a tight-rope. Not only are they placing bets based on the downfall of the US stock market, but they have yield curve bets that favor the short end, looking for a sharp rise in interest rates. In the meantime, their investors wait what has been a long period of anticipation for positive returns to materialize.

Odey Odyssey...

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