Odey: Builds Massive Long In Gold Futures; Short Insurers As Investors Lose Faith In Central Banks

Crispin Odey’s Odey European Inc Fund, which consists of the OEI, OEI Mac, and Odey Swan funds had yet another terrible month during August.

For August 2016 the fund returned -8.1%, against the MSCI Daily TR Net Europe (EUR) return of +0.7%. Year-to-date the fund is now down by 34.9% and over the past 12 months, the fund has lost 38.5%. Over the previous five years, the fund is down by 8.2% underperforming its benchmark by 72.1%.

After currency hedging, the short equity book made a . . .


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