Top Hedge Fund News, Member Posts, Hedge Fund Daily Indices and more!

4yrs ago Hedge Fund dealbreaker Views: 365

The least likable man in England would like everyone to know that his pal Crispin Odey is no George Soros.

Whether you believe that Crispin Odey has been fomenting, funding and betting on Brexit, or not, it is pretty clear that ol' Cripsy would benefit oh so much from the catastrophe of Britain leaving Europe with no deal.

Odey has some pretty sizable positions that would look great if the Pound Sterling dropped through the floor as the British economy imploded, and that's irked some members of Parliament who see something rather starkly fishy with the whole thing. Luckily for Odey, he has friends in the House of Commons, but unfortunately for Odey, one of those friends is Jacob Rees-Mogg:

During a debate in Parliament earlier today, Labour MP Valerie Vaz raised these concerns about the billionaire backer of Boris Johnson who as early as July was allegedly putting pressure on the then-frontrunner to become the next prime minister to prorogue Parliament and force through a No-Deal Brexit.

In response, Rees-Mogg didn’t deny that Odey stood to make money from a No-Deal Brexit. Rather, he pointed to a different hedge fund manager who back in 1992 made more money than Odey stands to make from Brexit.

Go on, human joke about classist inbreeding:

He said: “One of the major funders, allegedly, of the Remain campaign, the sort of Remoaner funder-in-chief, is one George Soros, who made a billion pounds when sterling crashed out of the Exchange Rate Mechanism, which is five times as much as Mr Odey is said to have made."

No, no. Let the ridiculous man finish his defense, please...

The Leader of the House of Commons also felt the need to point out that Odey was a friend and supporter of his: “So I fear all she is saying is that Mr Soros is a better hedge fund manager than my good friend Crispin Odey, who is a great friend of mine and, indeed, supporter of mine.”

"My friend might be a mediocre manager of money," Rees-Mogg would like the world to know. "But he's also nowhere near capable of doing something so next-level brilliant as pushing his country into economic chaos for his own profit."

You're a good friend, Jacob Rees-Mogg.

Brexit: Jacob Rees-Mogg launches bizarre defence of Crispin Odey [The National]


Today's Hedge Fund Headlines:

Log In for More
Access Over 250K+ Industry Headlines, Posts and Updates
Not a member yet?

Join AlphaMaven

The Premier Alternative Investment
Research and Due Diligence Platform for Investors

Free Membership for Qualified Investors and Industry Participants
  • Easily Customize Content to Match Your Investment Preferences
  • Breaking News 24/7/365
  • Daily Newsletter & Indices
  • Alternative Investment Listings & LeaderBoards
  • Industry Research, Due Diligence, Videos, Webinars, Events, Press Releases, Market Commentary, Newsletters, Fact Sheets, Presentations, Investment Mandates, Video PitchBooks & More!
  • Company Directory
  • Contact Directory
  • Member Posts & Publications
  • Alpha University Video Series to Expand Investor Knowledge
  • AUM Accelerator Program (designed for investment managers)
  • Over 450K+ Industry Headlines, Posts and Updates
ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. CONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT A SOLICITATION FOR INVESTMENT. THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES. ANY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM. PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT.