Odey loses faith in equity

Hedge fund Odey Asset Management plunged headfirst into the debt markets last month when it increased its holdings in bonds to 60% from almost zero in just over a week. The shift was in response to the depressed equity markets. Other hedge funds are expected to follow suit.

“We foresee the bull market will continue for longer than the market believes,” says Hugh Hendry, partner at Odey Asset Management. “And this change in strategic focus has been undertaken to take advantage of the

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