The manager reportedly wrote in a note to clients that he believes ultra-low interest rates have resulted in misallocation of capital around the world, and this is being exacerbated by continued QE in the eurozone.
The comments came alongside the revelation that his €720m Odey European Fund has shed 31% of its value during 2016 so far, driven by currency swings and equities market troubles.
The Odey Asset Management chief also invoked John Maynard Keynes in saying that while it is good for people and goods to travel, it is not necessarily so for savings.
The developments add to a less than stellar period by his own standards for the high profile investor, with the Sunday Times ‘Rich List’ estimating his personal fortune has fallen by £200m to around £900m over the past year.
