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It will be difficult to escape the toxicity of Odey Asset Management. You can only stay in such a fight for so long before it becomes clear there is no way out of that deep a hole (“Odey Asset Management to be broken up”, Report, FT.com, June 15).
Odey’s involvement was too intertwined with the structure and the management — even with the rebrand of a few years ago — the only course of action was to break up the business and move the people and funds to other firms. Whether that taint travels is not clear. Investors bought into Odey Asset Management for a reason — whether they can find that reason again under different owners and structures remains to be seen.
Alastair Crabbe
Brackley, Northamptonshire, UK
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