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Odey "equity Markets Will Get Devastated"

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Not sure if this has been posted yet on the forum, so apologies if so (I did try a search).

Yes it's equities, but it all bodes well for future HPC, IMO:

http://www.investmentweek.co.uk/investment-week/news/2392117/odey-equity-markets-will-get-devastated

Also covered in the Daily Mail 3 hours ago which has greater circulation of course :)

http://www.dailymail.co.uk/news/article-2932273/Bet-shares-fall-says-City-tycoon-millions-predicting-credit-crunch.html

Couple this with the Germany deflation story, and things are coming together nicely in my opinion.

These kinds of articles will hopefully get people thinking.... (probably about buying "safe" property instead of shares - lol!).

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I remember with EU crisis in 2010/11 Odey saying shares will soar. He was right.

2015 is increasinly likely to see start - if it hasn;t already started - of 2008.2.

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UK again referred to as a geopolitical risk. Farrage, Sturgeon and Cameron widely seen as financial terrorists either destabilising the UK or Europe. A strong line up indeed batting for this forum and an economic meltdown

Markets will be praying for a Miliband/Clegg ticket, even though both seen as jokes. Where as the former three all doing well in the polls.

Edited by crashmonitor

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2010/11 we were well into the equity bull market.

Youd have to be an idiot not to know that.

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The do not want a perma depression. What they want or don't want is their tough. Que sera.

Rates cannot go high sustainably. If they rise it will be bcos c banks don;t want to look follish as they said they'd raise. They'll come back down again v soon and to zero / negative...

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So looks like the great deflation is coming: everything going down; shares, property, oil, gold. It will be like walking on quicksand - no safe footing anywhere. Nothing will earn a yield and nothing will go up in price.

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Govt bonds.

Cash.

US$

Will be Kings.

Very high quality dividend paying stocks, maybe.

Gold could well be too. Safe haven. It's in a rally just now and it's yet to be seen if it's a minor 2012 or a major 2008 rally... or even 2001...

Gold pays a higher yield than -ve paying bonds...

Edited by Killer Bunny

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Odey said the following -- and I agree -- Osbourne - and his stupid idiotic "help to buy/[sell]" is one of the most cretinous schemes in all history......: -

“George [Osborne],” he says, “we hate more than Dave.”

By “we” he means the City. And when he follows these unflinching statements up with “David’s a decent person and I know him personally,” it’s clear that he is talking business. And Odey knows about business.

This is the man who predicted the recession, and here, in the pink art-lined boardroom of his oak-panelled offices, he delivers another devastating blow: “Property is ludicrously expensive,” he says. “House prices are right at the top of their cycle. I think they could crash. I’m not saying it’ll happen immediately, but I do think they can drop by half.”

http://www.standard.co.uk/lifestyle/london-life/crispin-odey-david-cameron-is-not-a-leader-doesnt-understand-power-and-doesnt-use-it-8335027.html

Edited by eric pebble

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So looks like the great deflation is coming: everything going down; shares, property, oil, gold. It will be like walking on quicksand - no safe footing anywhere. Nothing will earn a yield and nothing will go up in price.

Yup, here we go again. 2000, 2008, 2015.

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I sold all my shares at literally the peak in 2007 which wasnt too long before the crash purely on the basis i could see what was coming.

Maybe i will start claiming to be an economic visionary.

If he is practing what he preaches surely he'll be closing his fund down.

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And in 2012, which was the Std piece, he got what he wanted - QE ad infinitum.

But look what he's saying now

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George [Osborne], he says, we hate more than Dave.

By we he means the City.

The Conservatives are so the people's party. As if.

It would have been helpful if he'd clarified that statement and given more detail. If it's true that is.

It's a neat stance to take just before the general election - one of the most despised sectors in the country trying to pretend it doesn't like the Conservatives (and their Libdem wing) who have been dishing stuff out to them daily.

Not that the same wouldn't apply to the Labs when they're in power and dishing out similar benefits to their "city" chums.

Nevertheless he might still be correct about the markets

Edited by billybong

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Odey's basically saying that if you drop into a recession when you're already at the lower bound then you're fighting a battle without any bullets.

Plenty of people have already figured that one out.

Let's hope central bankers realise this too, that they grasp the current asymmetry of risk, and don't lift interest rates too fast or too far.

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  • 404 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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