Fund update | September 2017
The Odey International Fund returned -5.9% for the month of September.
Positive returns came from holdings in Financials, Consumer Staples and Health Care.
Best individual performers for the month were short positions in Vale and Ashmore and a long position in Oxford BioDynamics.
Stock markets going hyperbolic
In his September report, Crispin Odey writes, "Certainly stock markets are now starting to go hyperbolic. A sign that, whilst there is no knowing how high they will get, time is running out. You are now seeing the sight of a developing bubble with breadth narrowing and individual participation rising. Valuations are expensive but then profit margins have remained elevated."