James "Quinny" Quinn, the group business editor of The Daily Telegraph, has just published a rather good story about the urbane Crispin Odey upping his stake in Sports Direct to back over 5pc. Here is the link:
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/12098486/sports-direct-crispin-odey-share-price-fall-5pc-investor.html
I guess Quinny's jackanory confirms one element of the market gossip I had picked up today - that Odey had finally stopped selling Sports Direct shares after telling The Daily Telegraph on the record last week he is significantly reducing his position.
Clearly, though, my snout only had half of the real story, so hat tip to my former colleague for bottoming out the whole tale.
Still, it begs the question: what is Crispin Odey up to (apart from incurring heavy dealing costs) buying and selling such large chunks of Sports Direct stock in a short time frame?
Well, if I'm completely honest I'm not sure what to make of Odey's trading style but what this latest episode does show is that Mike Ashley, the founder of Sports Direct, isn't the only business big shot who likes to play spoof with hundreds of thousands of pounds...
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