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Wednesday, January 04, 2017

Hedge fund bet against Trump -- and lost $400 million

The sequel to "Trump the Press" will end with six words: Never bet against Donald John Trump.

Offering proof today is Russell Clark, global strategy fund manager of Horseman Capital Management Ltd.

From the Wall Street Journal:
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.
The bulk of the fund’s losses last year came in the final two months—a 12.8% loss in November and a further 7.8% in December. Those equate to losses of around $330 million or more, according to calculations by the Journal.
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.
Russell Clark bet against President Trump and the United States.

That means about $400 million of his company's money now belongs to people who believed in President Trump and the people of the USA.

Oh if only the poor fool had invested $19.99 and read my book in paperback or $9.99 for the Kindle version.

Best line in the story? "Horseman didn’t respond to requests for comment."

@@@

Please read "Trump the Press," in which I skewer media experts who wrongly predicted Trump would lose the Republican nomination. "Trump the Press" is available as a paperback, and on Kindle.

It covers the nomination process only. The general election will be covered in a sequel.

For an autographed copy, email me at DonSurber@GMail.com

Be deplorable. Follow me on Twitter.

6 comments:

  1. Mr. Ed would have been a better investment advisor than the horseman.

    ReplyDelete
  2. Russell Clark was a horse's patootie for betting against The Donald.

    ReplyDelete
  3. Left wing hubris. Everybody thinks he's Soros. Even Soros.

    ReplyDelete
  4. This one was a no-brainer. More American production equals higher stock values. I knew DJT was going to follow through on his promises re American jobs, less onerous regulation, and infrastructure. Adjusted my portfolio according (the morning after the election) and now my face is starting to hurt from all the smiling...

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  5. "The sequel to "Trump the Press" will end with six words: Never bet against Donald John Trump." Dang it, Don, you gave away the ENDING!! I don't need to buy your book now.
    Well, maybe I need to see how funny you were on getting there. Yeah, I do.

    ReplyDelete