• 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 1.1bn as at 30th September 2017.

    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

    October 2017 It Came From the East - Vampires and Bond Vigilantes

    “Bond vigilantes are often talked about but rarely seen in my experience. However, the home of Count Dracula could now also be the first sighting of bond vigilantes in  many years"

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  • Russell Clark
    Portfolio Manager

    October 2017 The Drugs Don't Work

    “In 2016, total US expenditure on drugs was USD 600bn.  The US Federal Drugs Agency (“FDA”) is starting to take aim at rising drug prices, particularly with older drugs that have already seen a recent price increase.”

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  • Shannon McConaghy
    Portfolio Manager

    September 2017 Japanese Retailers Gasping For Breath

    "Mid-sized retailers in Japan are experiencing a shrinking pool of consumers, losing market share to online operators and facing aggressive large-scale competitors that cut prices even as they face a disproportionate rise in their own labour costs. Some players in the retail sector are likely to be squeezed out of the shrinking pool and left gasping for breath as margins evaporate."

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  • Russell Clark
    Portfolio Manager

    August 2017 Could the Federal Reserve Need to Start QE Again?

    “After almost ten years of low rates and large-scale asset purchases by the Federal Reserve, the market now expects the Fed to begin reducing the size of its balance sheet. The problem is that the Fed is reducing its balance sheet at a time when the supply and demand for these assets is already worrisome.”

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  • Russell Clark
    Portfolio Manager

    July 2017 The End of the Texas Tea Party

    “The increase in completed wells and the substantial drop in legacy wells potentially indicates that new well production is increasingly cannibalising legacy production. The level of legacy decline is very significant issue. Permian producers have struggled to stay ahead of the legacy decline of the field.”

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