Crispin Odey must be feeling pretty happy with himself this year. After several years of waiting and forecasting the next severe bear market, his bearish bets on government debt are finally starting to pay off.
According to sources familiar with the matter, Odey’s flagship hedge fund has gained 19.9% for the year to the beginning of June, a fantastic turnaround for a fund that has seen its value crumple by 60% from the peak three years ago.
After topping the list of the world’s worst-performing hedge funds the past three years, Odey’s flagship European fund is now one of the best performing funds this year.
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