Equities set for pullback -hedge fund manager Odey

LONDON (Reuters) - Equity markets are likely to fall after their sharp rally so far this year, according to high-profile hedge fund manager Crispin Odey, who early this year called the start of a new bull market. "Markets are now a little overbought and will probably have a pullback," said Odey, who is founding partner at Odey Asset Management, in a note to clients. Odey was one of the few hedge fund managers to make money last year, profiting from falling bank shares, and has made money this year after buying shares in Barclays (BARC.L), whose shares have risen from around 50 pence in January to more than 350 pence on Friday. In April he said the upturn in stocks had "the chance to be a new bull market."

(Reporting by Laurence Fletcher)