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Komfie Manalo, Opalesque Asia:

The market rally in the first 16 days of October proved to be a disaster for Crispin Odey as his flagship hedge fund fell 16.8% in the first half of the month, bringing its year-to-date losses to 17.4%, reported Bloomberg.

Odey’s $1.4bn European fund, which bets on the rise and fall of stocks, made money in August and September after betting against the Chinese economy. Odey European gained 9% in August betting against China after losing money on the wager earlier in the year.

Odey, whose firm manages $12.8bn, told investors in July that a devaluation in China would mean deflation breaking out across the world.

The fund gained 7.6% in September that reduced European fund’s 2015 loss to 0.7%. Odey European registered a 19% loss in April, but was able to recover in the following months only to see the losses pull away again this October.

Odey European strategy rose 5.5% in 2014 and 26% in 2013.

Early this month, Odey led a group of hedge funds that wagered against Anglo American shares. Anglo American, the world’s largest diamond and platinum produ......................

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