Yes and no. Clearly some of the positions taken by Odey and Marshall Wace will pay off if there is a crash-out Brexit and UK-facing stocks are hit hard. Fund managers say the sectors most vulnerable to a no-deal Brexit are companies that make most of their profits in the UK rather than abroad – such as housebuilders and retailers – and Odey is in a lot of them.
Odey has big short positions against Intu Properties, which runs 17 shopping centres across the UK, the retailer Debenhams, and the housebuilders Berkeley Group and Cairn Homes.
Being short Intu and Debenhams as the High Street crumbles under the internet is a bet on Brexit now, is it?