Fund update | August 2017
October 2017 | The Odey International Fund returned 1.35% for the month of August.
Positive returns came from holdings in Materials, Energy and Financials.
Best individual performers for the month were long positions in Rangold Resources and Shiseido Company and a short position in Weatherford International.
Economists started life as alchemists
In his August report, Crispin Odey writes, "Sidney Homer in ‘A History of Interest Rates – 2000 BC to the present’ had to deal with the period before interest rates existed. What was the natural rate of return given by nature? How many eggs from a chicken? Economists started life as alchemists. All governments dreamt of creating gold out of base metals. All kings wanted interest rates to be lower so that growth could be stronger."