The themes I have been outlining since the second quarter of 2014 are now establishing themselves:
The themes I have been outlining since the second quarter of 2014 are now establishing themselves: ? A faltering Chinese economy with growth ultimately slowing down to 3%. ? A hard landing for those countries plugged into China's growth - especially Australia, South Africa and Brazil. ? A fall in commodity prices bringing with it pain to those heavily exposed. For oil this is the Middle East, Venezuela, Argentina, mid-west USA, Canada, Norway and Scotland. We are in the first stage of this downturn. It is too early to see what will happen - a change of this magnitude means the darkness and mist is very great. We will make some mistakes but with our thinking we won't make the major mistakes. The problem is where you stand - I am amazed to see so many are fully invested given that equities are already fighting the downtrend. Full report: (VIEW LINK)
Crispin is one of Europe's most respected investors having delivered exceptional returns for his clients. Since he established Odey Asset Management in 1991, his flagship long-short strategy has compounded at almost 14% per annum net of all fees...