Banks, not sovereign debt, plague Europe: Odey
Hedge-fund manager Crispin Odey is short European banks, saying they are the real cause of the bloc's bleak outlook.
Crispin Odey, founder of London-based Odey Asset Management, says there is no economic reason for investors to own European banks, including those in Britain. It is a broken banking system that is at the heart of Europe's financial crisis, not sovereign debt, he says on a recent visit to Hong Kong.
AI: You are famous in the UK for successfully shorting Bear Stearns. What are you short now?
Our fund was net long in 2011. I went short European banks in the first quarter, along with…
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