Odey Warns Of Global Threat To Jobs From Disruptive Technologies

After reporting a positive performance for January, Crispin Odey’s Odey International Fund resumed its downward trend in February losing 3.1%. After this loss year-to-date the fund is down 1.1% compared to its benchmark (MSCI World Index Daily TR) return of 4.42%. For February the MSCI World Index returned 3.1%, according to a letter to investors reviewed by ValueWalk.

After losing a staggering 41.4% for investors last year, it looked as if Odey’s losses had stabilized at the end of January when the fund reported gains of 2.1%. Unfortunately, Odey has now returned to form as his ultra-bearish bets continue to lose money for investors.

At the end of February, the hedge fund’s largest position was short Long Gilt Future Jun17...