Hedge fund tycoon Crispin Odey, one of the biggest investors in listed car dealer Pendragon, said the flood of cheap credit is drying up.
“We’re seeing this spike of people saying ‘I’m sorry, we’re not going to lend you the money’,” Mr Odey said. He has hedged his investment in Pendragon with a bet against Lookers. “What we’re talking about is a credit cycle that has been elongated.”
As Crispin Odey is Boris Johnson's mate (and funder) who has reportedly made a stack shorting the pound and the British Stock market during this Brexit fiasco, I sincerely hope that Lookers get their dermot together, and Pendragon take a massive hit.
