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.”  
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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

Brexit badge.png 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.

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

Notes