Fund update | September 2016
For the month of September, the Odey International Fund returned -3.26%.
In his report, Crispin Odey writes, "We are now destined to have a recession in the UK, as well as inflation. It will be difficult for the stock market to remain above all of this. What QE has done is to make investors complacent but also optimistic that only an upturn in economic activity, spelling higher profits, could trigger upward interest rates. What the UK is promising is rising wages, recession, inflation and falling profits. Not exactly the prize that ticket holders in the FTSE and the gilt market have paid up for." Read more
September 2016 report