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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