And the gambling goes on….
Russel Clark’s Hedge fund, The Horseman Global fund, recorded its biggest ever annual loss due to short bets during the longest bull market in history. The hedge fund fell 35% last year.
Contrarian bets made Clark on of the most watched fund managers in the word. He wagered against equities since 2012 and raised its net short position to a record 111% of gross assets in October according to Bloomberg. However, as the S&P 500 index rose 31.5% last year, Clark’s fund is now struggling.
In 2015, Horseman Global managed $1.7 Bio. As of November 2019, the fund is down to $241 Mio. Clark is one of the last short sellers left who’s willing to make such directional bets amid a rising market and has limited time to save his hedge fund.
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