We’re In The “Early Stages” Of A Profound Bear Market”: Odey

October brought steep declines across the equity market, and many equity funds were in the red as a result. Odey Asset Management was among those in the green in October as it retuned nearly 7%, significantly outperforming the MSI World Index Daily, which fell nearly 7% last month.

The shorts have it

Overall, Odey has had a pretty solid year. In 2018, the $5.9 billion manager was in the green in every month except January and August.

In his October 31 update, which was obtained by ValueWalk, founder Crispin Odey named the firm's short position in Tesla as one of its top 10 holdings during the month. Notional exposure to Tesla was...