Sunday, February 1, 2015

The coming major recession will be remembered 'in a hundred years'

 Hedge fund manager Crispin Odey (pictured) has warned that major economies are entering into a recession that will be remembered for generations to come

A hedge fund manager who made millions after correctly predicting the credit crunch has warned major economies are entering a recession that will be ‘remembered in a hundred years’.

In a letter to his well-heeled customers, Crispin Odey predicted that ‘equity markets will get devastated’ and described it as the best time to bet on shares slumping in value since the recent financial crisis.

Citing the current turmoil in the markets, including a dramatic slump in the oil price and a ‘faltering Chinese economy’, he said: ‘This downcycle is likely to be remembered in a hundred years, when we hope it won’t be rated for ‘How good it looks for its age!’.

Oxford-educated Mr Odey is the founder of Odey Asset Management, which runs more than £7.6billion for investors around the world.

More @ Daily Mail

4 comments:

  1. People will not know what things were like 100 years ago. They still won't have a reference point to judge by.

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    1. be remembered

      Seems like they are just saying it will be remembered, but making no predictions of how good/bad it will be then.

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  2. What so many fail to realize is that during the Great Depression, there was a great recession that happened in '37-'38 which recorded a whopping 18% drop in GDP.

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    1. a great recession that happened in '37-'38 which recorded a whopping 18% drop in GDP.

      Thanks.

      Delete