Hedge Funds
The turbulence in Crispin Odey’s performance continued in March, with the OEI Mac hedge fund run by England’s wealthiest individual losing -3.9% on the month, bringing the year-over-year performance to -33.7%. In today’s market environment, Crispin Odey, in a letter to investors reviewed by ValueWalk, said it feels “lonely” to be bearish. In some respects, the OEI Mac hedge fund performance, with nearly $800 million under management in the strategy, resembles the price of oil: a massive run-up in value followed by a period of giving up all the hedge fund’s gains.  While the timeframes are slightly different – oil...

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