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City tycoon makes £225m from the Great Fall of China
The billionaire hedge fund manager who made a fortune predicting the credit crunch has struck gold again with the stock market meltdown. Betting that the economic turmoil in China would drag down western economies, Crispin Odey is thought to have made £225million for himself and around 2,500 well-heeled investors. As well as betting on shares going up in value, hedge funds can gamble on them falling, a process known as ‘shorting’. Mr Odey’s hedge funds have soared by around 10 per cent in value since the beginning of the month as stock markets around the world have been hammered. The FTSE 100 index of the ... (full story)
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- NewtonsCash
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When the facts change I change my mind, what do you do sir