Odey AM swipes second EM manager from Newton for new funds business
Sophia Whitbread reunited with long-time Newton colleague Rob Marshall-Lee who was poached for Brook AM last November
Odey Asset Management has swiped emerging markets manager Sophia Whitbread from Newton Investment Management for its newly created funds business.
Whitbread (pictured) will join Brook Asset Management, launched by Crispin Odey’s eponymous funds business, in June as an assistant portfolio manager on its Global Emerging Markets strategy.
There she will be reunited with long-time Newton IM colleague Rob Marshall-Lee who was poached by Odey last November to head up its brand-new emerging markets business.
10 Wednesday AM Reads
My mid-week morning
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Millions of Christmas presents may arrive late because of Postal Service delays Unprecedented package volume has paralyzed the agency, leading managers to divert vast shipments of mail across the country. Postmaster General Louis DeJoy tried to screw up the election, he managed to screw up Christmas instead. (Washington Post)
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What If You Only Invested at Market Peaks? There were some lean times in there, especially in the aftermath of the Great Depression. But by and large, the long-term returns even from the height of market peaks look pretty decent. If you have a long enough time horizon and are willing to be patient, the long-run remains a good place to be when investing in the stock market. (A Wealth of Common Sense)
10 Sunday Reads
Avert your eyes! My
• Lie of the Year: Coronavirus downplay and denial Lies infected America in 2020. The very worst were not just damaging, but deadly. President Donald J. Trump fueled confusion and conspiracies from the earliest days of the coronavirus pandemic. He embraced theories that COVID-19 accounted for only a small fraction of the thousands upon thousands of deaths (PolitiFact)
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How Offshore Oddsmakers Made a Killing off Gullible Trump Supporters The betting markets were not good predictors, but they weren’t trying to be. The online bookmakers that fielded bets on the election saw their largest single-event windfall ever. To understand why, you need to understand election betting and Donald Trump supporters. Offshore sportsbooks do not share detailed financials, but the 2020 election appears to have been the biggest online betting event in at least American history, to say nothing of what licensed bookmakers in Europe mi
10 Weekend Reads
The weekend is here! Pour yourself a mug of
El Borbollón coffee, grab a seat by the fire and get ready for our longer form weekend reads:
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How Science Beat the Virus in fall of 2019, exactly zero scientists were studying COVID‑19, because no one knew the disease existed. By the end of March 2020, it had spread to more than 170 countries, sickened more than 750,000 people, and triggered the biggest pivot in the history of modern science. Thousands of researchers dropped whatever they were doing and began working on the pandemic instead. In mere months, science became thoroughly COVID-ized. (The Atlantic)