• Horseman Capital Management is an investment company that provides money management expertise to eligible counterparties and professional clients.

    Total assets under management are over USD 850m as at 28th February 2019.

    Founded by John Horseman in July 2000 the company provides money management expertise covering various equity strategies. We are owned entirely by the founding partners and directors …

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  • Russell Clark
    Portfolio Manager

    February 2019 A Potted History of Korean Finance

    "Korea has a compelling record of being a large player in many of the big market blow ups of the last two decades. This of course begs the question, what are the Koreans involved in now?"

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  • Russell Clark
    Portfolio Manager

    February 2019 The Difference Between 2015-16 and Now

    "In 2015-16 various signals gave a mixed message on market outlooks, but short positioning increased substantially. This meant the market rallied substantially when recession was avoided. In 2018-19, the bearish signals are much clearer, but markets have not positioned themselves bearishly."

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  • Russell Clark
    Portfolio Manager

    February 2019 Semiconductors, KOSPI Index and Suppressed Volatility

    "Historically, the supply and demand of autocallables has been kept in check by rising markets. Could this be about to change?"

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  • Shannon McConaghy
    Portfolio Manager

    February 2019 Japan Falling Through US 10s30s Spreads

    "Japanese equities have generally fallen into bear markets during periods in which the US 10s30s spread is either widening, as it is now, or indeed when the US 10s30s simply is not narrowing."

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  • Russell Clark
    Portfolio Manager

    January 2019 Autocallables, Eurostoxx 50 and Suppressed Volatility

    "Autocallables are a service, where banks will offer to sell insurance on the stock market on your behalf, and you will receive premiums in return. So, rather than buying an autocallable, it’s better to think of an investor as posting collateral for a bank to sell puts on their behalf."

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