market folly

Crispin Odey of Odey Asset Management was recently interviewed by Killik & Co and talked about his general view of markets, his strategy in his funds, and one of his favorite stock picks: Delta Airlines (DAL).


Odey's Strategy

On his strategy: "The whole idea was to protect people's capital, but to take advantage of any opportunities that were coming along."

Odey likes to look for new trends.  While it's a global fund, it has a high European bias due to the fact that that's where their expertise lies.


Odey's US Market Outlook

His medium-term outlook has been more optimistic than most about the US and he mentions he's worried about the recent mention of tapering, saying it would be "difficult for equities and the stock market."  So he's not quite as optimistic as he was.


Delta Airlines (DAL)

One of the ideas Odey likes is Delta Airlines (DAL) "because it's making a 6% return on sales and valued at 60% of sales."  The airline industry hasn't made money in the States but things have changed now due to all of the industry consolidation.  He likes that there's full capacity on the planes these days and fancies the stock over the next 2-3 years.

Embedded below is the interview with Crispin Odey:



For more on this manager, we've posted up some of Odey's portfolio activity here.