A bit rich? Well, yes, king of hedge fund managers Christian Odey is more than a bit rich, and so is the reason he’s giving for losing money. He bet that the share prices of various ‘troubled’ (ie likely to go bust) companies would plummet. And now various banks have stepped in to save the day and prop up those failing businesses! If you can’t rely on banks to do the dirty and pull the plug, then what’s the world coming to and what’s a chap to do?
“Global stock markets fall sharply amid fears over inflation and China slowdown”
Diesel at my local filling station now costs over £7.50 a gallon (kids etc.). Not my problem these days, but I’m sadly old enough to remember the furore in the 1970s when the price went up to 50p a gallon.
