Odey Posts Dramatic September Returns As Trend Is His Friend

Hedge fund manager Crispen Odey posted monster numbers in September on the back of strong trends in the currency markets as the portfolio manager of more than $11 billion says the markets are at last reacting to reality.

Odey Asset Management's USD class fund returns 13.3% to investors

Odey Asset Management’s USD class fund returned 13.3 percent to investors in September as the GBP “B” class fund delivered 16 percent returns during a month when the MSCI European index was down 3.8 percent (US dollar adjusted returns).

“Finally, in September markets gave up taking bad news as good news,” as investors and traders accepted the fact the “outlook for the world economy has worsened.” In his September letter to investors reviewed...