With the S&P 500 up 5.6% to end the first quarter of 2016, the Odey Odyssey Fund, down -7.2% year to date as of the end of February, is playing a painful waiting game. Odyssey portfolio managers Tim Bond and Dipankar Shewaram, in a letter to investors reviewed by ValueWalk, are walking a tight-rope. Not only are they placing bets based on the downfall of the US stock market, but they have yield curve bets that favor the short end, looking for a sharp rise in interest rates. In the meantime, their investors wait what has been a long period…
Down In February, Odey Sees Market Crack Coming… Again
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.
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