Hedge fund manager Crispin Odey predicts UK recession, stock market fall - letter

By Maiya Keidan LONDON (Reuters) - Veteran hedge fund manager Crispin Odey believes Britain is "destined" to have a recession leaving richly valued stocks vulnerable to sharp declines, he said in a letter to investors seen by Reuters. London-based Odey said the Bank of England had engineered an unsustainable situation in which company earnings had fallen but the stock market continued to rise. "The FTSE 100 share index is now up 30 percent over five years, whilst earnings have fallen by 80 perce