Only this time, they are betting with (and losing) other people's money - from The Wall Street Journal:
Hedge Fund Horseman Capital Suffered Huge Loss on Trump Victory
The flagship hedge fund at Horseman Capital Management Ltd. was one of the world’s worst-performing hedge funds last year, posting a big loss in the wake of Donald Trump’s U.S. election victory.
London-based Horseman runs about $2 billion in assets. Its main $1.7 billion Global strategy fund lost 24% through Dec. 28, according to numbers sent to investors in an email and reviewed by The Wall Street Journal.
And their strategy?
Global strategy fund manager Russell Clark had been running huge bets against stocks, according to letters to investors, and was hit by the sharp rally in markets fueled by Mr. Trump’s victory.
The fund’s largest bet was against U.S. stocks, while it was also positioned for eurozone and Japanese stocks to fall, according to the fund’s latest letter to investors.
Last year’s loss, to Dec. 28, is one of the biggest in percentage terms chalked up by a hedge fund in 2016, according to data seen by the Journal. Hedge funds on average were up 2.5% last year to Dec. 29, according to data group HFR. The fund had been a top performer globally in 2015 and during the credit crisis, according to performance numbers seen by the Journal.
Horseman didn’t respond to requests for comment.
didn’t respond to requests for comment - no shit Sherlock. I would be crawling under the rug if I did not see that coming. They should have had a heads up with the Brexit vote. The people outside their boardrooms are fed up and they are making their displeasure known loudly. I wonder if anyone at the firm saw the coming Trump presidency and tried to warn the bubble-dwellers.
