"This is just The Big Short again," Tavi Costa, a portfolio manager at the hedge fund,Crescat's chief, Kevin Smith, kept half of the fund's assets in cash and invested in gold and silver in anticipation of a market downturn, Ozy reported.
The OneTail Hedgehog Fund II posted a 156% return in March, fueling a 400% return for the first three months of the year, The Journal said, citing client letters.Twitter/50 Cent The fund invested in derivatives tracking the VIX volatility index, which is often called Wall Street's"fear gauge." It also bought credit derivatives, S&P 500 and Euro Stoxx 50 put options, and gold hedges.
The fund gained its nickname after it made a killing in February 2018 by buying VIX derivatives for 50 cents each.Odey Asset Management, helmed by Crispin Odey, posted gains across several of its funds during the market downturn.
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