New York (HedgeCo.net) \u2013 As one of Europe\u2019s most well-known hedge fund managers, when Crispin Odey speaks, people tend to listen. If they are listening now, Mr. Odey is warning that there is a new global financial crisis looming and with that thought in mind, he has moved a big portion of his portfolio to cash.<\/p>\n
According to a recent MarketWatch article, Odey thinks stocks are tremendously overvalued, stating that global stock markets \u201c\u201care so overextended that they will need to fall 30%-40%\u201d before they offer a compelling bargain, he argues. The article goes on to state that Odey\u2019s Opus Fund has 29% of its $11.7 billion in assets now held in cash. <\/p>\n
The reason for the bearish outlook from Odey is based on the recent devaluation by the Chinese government is ushering in an era of \u201ccurrency wars, tariffs and the formation of trading blocs,\u201d and this will lead to a crisis, especially among emerging markets. He even went as far as to compare it to the U.S. housing market crash.<\/p>\n
Rick Pendergraft
\nResearch Analyst
\nHedgeCoVest<\/p>\n","protected":false},"excerpt":{"rendered":"
New York (HedgeCo.net) \u2013 As one of Europe\u2019s most well-known hedge fund managers, when Crispin Odey speaks, people tend to listen. If they are listening now, Mr. Odey is warning that there is a new global financial crisis looming and […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048],"tags":[],"class_list":["post-50064","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/50064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=50064"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/50064\/revisions"}],"predecessor-version":[{"id":50065,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/50064\/revisions\/50065"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=50064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=50064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=50064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}