Odey Tells Investors Prepare For 11% Inflation And A Market Crash [2020 Letter]Rupert Hargreaves
"Assets are priced for eternal delight and negative real interest rates lasting forever," Crispin Odey declared at the start of his December 2020 letter to investors of the OEI Mac fund.
The $170 million fund lost -3% in December, according to a copy of an investor tear sheet, which ValueWalk has been able to review.
Following this performance, the strategy ended the year with a loss of 26.1%.
Over the past five years, the fund has lost nearly 58%, underperforming its benchmark, the MSCI Net Europe index by 97%. Since its inception, February 1994, the fund has returned a . . .
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