Odey: Equity markets will be 'devastated' as global economy slumps

Hedge fund manager Crispin Odey has warned major economies are entering a recession that will be "remembered in a hundred years".

In a letter to the clients of Odey Asset Management, sent earlier this month, the investor (pictured) said he expects a recession to hit markets as a number of countries across the globe struggle with the current economic conditions. "I think equity markets will get devastated," the hedge fund manager said. "Equities are priced for perfection, pushed up by...