Difference between revisions of "Crispin Odey"
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The ''Evening Standard'' reported that Odey had placed a big-stakes bet on the outcome of the Brexit referendum, which paid off handsomely – Odey made profits of £220 million – as markets went into a tailspin. | The ''Evening Standard'' reported that Odey had placed a big-stakes bet on the outcome of the Brexit referendum, which paid off handsomely – Odey made profits of £220 million – as markets went into a tailspin. | ||
| − | Odey was quoted as saying: “I feel fantastic. It’s a fantastic decision by the electorate.”<ref>[https://www.standard.co.uk/business/business-focus-the-billionaire-hedge-fund-winners-who-braved-the-brexit-rollercoaster-a3284101.html Business focus: The billionaire hedge fund winners who braved the Brexit rollercoaster], Evening Standard, 29 June 2016</ref> “There’s that Italian expression,” he told the BBC. “‘Al mattino ha l’oro in bocca’ – the morning has gold in its mouth – and never has one felt so much that idea as this morning really.” | + | Straight after the referendum vote, Odey was quoted as saying: “I feel fantastic. It’s a fantastic decision by the electorate.”<ref>[https://www.standard.co.uk/business/business-focus-the-billionaire-hedge-fund-winners-who-braved-the-brexit-rollercoaster-a3284101.html Business focus: The billionaire hedge fund winners who braved the Brexit rollercoaster], Evening Standard, 29 June 2016</ref> “There’s that Italian expression,” he told the BBC. “‘Al mattino ha l’oro in bocca’ – the morning has gold in its mouth – and never has one felt so much that idea as this morning really.” |
However, in January 2017, it was reported that Odey had 'slumped to his biggest ever losses'. His fund lost nearly 50% of its value in 2016 'as his ultra-pessimistic bets on the UK economy turned sour', wrote the ''Independent''.<ref>[http://www.independent.co.uk/news/business/news/brexit-latest-news-leave-backer-crispin-odey-hedge-fund-billionaire-record-losses-uk-stock-market-a7512671.html Brexit-backing hedge fund billionaire Crispin Odey suffers record losses as UK stock market surges to all-time high], Independent, 6 Jan 2017</ref> | However, in January 2017, it was reported that Odey had 'slumped to his biggest ever losses'. His fund lost nearly 50% of its value in 2016 'as his ultra-pessimistic bets on the UK economy turned sour', wrote the ''Independent''.<ref>[http://www.independent.co.uk/news/business/news/brexit-latest-news-leave-backer-crispin-odey-hedge-fund-billionaire-record-losses-uk-stock-market-a7512671.html Brexit-backing hedge fund billionaire Crispin Odey suffers record losses as UK stock market surges to all-time high], Independent, 6 Jan 2017</ref> | ||
Revision as of 13:22, 10 November 2017
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Part of the Powerbase Brexit Portal. |
Robin Crispin Odey is a prominent hedge fund figure in London.
He is a donor to the Conservative Party, UKIP and the campaign for the UK to leave the EU.
He is founder of hedge fund Odey Asset Management.
Contents
Brexit
Odey backed Vote Leave, donating £873,328 to the campaign for Britain to leave the EU.
He says that talk about hedge fund managers wanting to come out of Brussels because of the directives introduced after the financial crisis that might have affected their industry is “all crap”. Rather, he says, “Europe hasn’t exactly covered itself in glory”.[1]
Betting on Brexit
The Evening Standard reported that Odey had placed a big-stakes bet on the outcome of the Brexit referendum, which paid off handsomely – Odey made profits of £220 million – as markets went into a tailspin.
Straight after the referendum vote, Odey was quoted as saying: “I feel fantastic. It’s a fantastic decision by the electorate.”[2] “There’s that Italian expression,” he told the BBC. “‘Al mattino ha l’oro in bocca’ – the morning has gold in its mouth – and never has one felt so much that idea as this morning really.”
However, in January 2017, it was reported that Odey had 'slumped to his biggest ever losses'. His fund lost nearly 50% of its value in 2016 'as his ultra-pessimistic bets on the UK economy turned sour', wrote the Independent.[3]
Business interests
Odey is founder of hedge fund Odey Asset Management.
In 2008, as markets crashed, Odey made millions short selling bank stocks.
Odey's company Odey Asset Management previously owns 12% of Circle Holdings, owner of private hospital company Circle Health.[4]
Political Donations
Recorded by the Electoral Commission:[5]
| Date | Name of donor | Amount | Donated to | Subsidiary (parties only) |
|---|---|---|---|---|
| 03/12/2007 | Robin C Odey | £3,000.00 | Conservative Party | Gloucester |
| 07/07/2008 | Robin C Odey | £30,000.00 | Conservative Party | Central Party |
| 13/02/2009 | Robin C Odey | £9,000.00 | Conservative Party | Central Party |
| 25/03/2009 | R C W Odey | £100,000.00 | Conservative Party | Central Party |
| 15/04/2009 | Robin Crispin William Odey | £10,000.00 | Christian Party "Proclaiming Christ's Lordship" [De-registered 26/07/12] | |
| 16/05/2009 | Crispin Odey | £1,617.00 | Pro Democracy: Libertas.eu [De-registered 02/11/10] | |
| 16/05/2009 | Crispin Odey | £5,347.00 | Pro Democracy: Libertas.eu [De-registered 02/11/10] | |
| 28/05/2009 | Crispin Odey | £3,000.00 | Pro Democracy: Libertas.eu [De-registered 02/11/10] | |
| 12/06/2009 | Robin Crispin William Odey | £15,000.00 | Christian Party "Proclaiming Christ's Lordship" [De-registered 26/07/12] | |
| 23/06/2009 | Robin C Odey | £10,000.00 | Conservative Party | Central Party |
| 30/06/2009 | Robin C Odey | £5,000.00 | Conservative Party | Hereford |
| 09/02/2010 | Robin C Odey | £5,000.00 | Conservative Party | Forest of Dean |
| 14/04/2010 | Robin C Odey | £2,000.00 | Conservative Party | North East Somerset |
| 26/04/2010 | R C W Odey | £4,000.00 | UK Independence Party (UKIP) | Central Party |
| 11/05/2010 | Robin C Odey | £2,000.00 | Conservative Party | Mid Sussex |
| 19/07/2010 | Robin C Odey | £6,000.00 | Conservative Party | Orpington |
| 26/01/2011 | Robin C Odey | £50,000.00 | Conservative Party | Central Party |
| 03/03/2011 | Odey Asset Management Group Limited | £20,000.00 | Conservative Party | Central Party |
| 06/04/2011 | Odey Asset Management Group Limited | £20,000.00 | No Campaign Limited | |
| 08/10/2013 | Robin C Odey | £9,000.00 | Conservative Party | North East Somerset |
| 23/04/2014 | Robin Odey | £10,000.00 | UK Independence Party (UKIP) | Central Party |
| 17/06/2014 | Robin Odey | £12,000.00 | UK Independence Party (UKIP) | Central Party |
| 02/10/2014 | Robin C Odey | £10,000.00 | Conservative Party | Hereford and South Herefordshire |
Affiliations
- Kwarsi Kwateng worked as an analyst for Odey Asset Management.
- Circle Holdings
- Odey was briefly married to Rupert Murdoch’s daughter Prudence.
Notes
- ↑ Why are hedge funds supporting Brexit?, Guardian, 6 Nov 2015
- ↑ Business focus: The billionaire hedge fund winners who braved the Brexit rollercoaster, Evening Standard, 29 June 2016
- ↑ Brexit-backing hedge fund billionaire Crispin Odey suffers record losses as UK stock market surges to all-time high, Independent, 6 Jan 2017
- ↑ Sean Farrell Circle says it’s driven by its patients – but it’s been looking rather sick itself Guardian, 9 January 2015, accessed 7 May 2015.
- ↑ Electoral Commission, Search: 'Odey', accessed 7 May 2015
