Crispin Odey and other hedge fund managers profit from sterling tumble

Financial Times/Laurence Fletcher/9-27-2022

“Odey’s bets — based on the belief that the market had badly underestimated how long inflation could stay high — are now paying off handsomely. His flagship European hedge fund is now up about 145 percent this year.”

USAGOLD note: One investor’s folly is another’s fortune… Odey is taking advantage of the mainstream’s belief that central banks can simultaneously contain inflation and save the bond market. “It [sterling and gilts] is all part of the same story of higher inflation,” he says. ”The market has been a long way from where inflation was.”