• 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 June 2018.

    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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  • Shannon McConaghy
    Portfolio Manager

    July 2018 Insurance That Pays You A Premium

    “In Japan, demographics are becoming such a headwind that you can find sectors that are providing appealing short returns already, even as the global cycle continues. I believe they will offer even more appealing short returns when the turn comes. Kind of like fire insurance that pays you premiums before the fire, then pays out big time after fire. Of course, you still have to put the insurance on before the fire starts.”

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  • Russell Clark
    Portfolio Manager

    July 2018 The End of the Texas Tea Party - An Update

    "I wrote a Market View on US Shale Oil in July 2017, but since then the relationship between new production and legacy decline has changed."

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  • Russell Clark
    Portfolio Manager

    June 2018 The Changing Nature of the Chinese Renminbi

    “Recently the CNY has begun to weaken again, and markets are reacting as if the 2018 devaluation is a replay of the 2015 devaluation. However, the economic environment in China now and in 2015 is vastly different.”

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  • Shannon McConaghy
    Portfolio Manager

    June 2018 A Tsunami Out of US CLO's?

    “If the BOJ raises interest rates they risk triggering a tsunami of Japanese money flowing back home, strengthening the Yen and amplifying the coming deflationary pressures. In addition, much of that money is currently propping up higher risk overseas debt markets like US CLOs. If Japan, the world’s largest creditor, does brings its money back home that would bode extremely poorly for the global credit cycle.”

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  • Russell Clark
    Portfolio Manager

    May 2018 Smartphones - Squeezing the Suppliers

    As sales of smartphones grew so did the share price of the manufacturers. Suppliers of smartphone components also shared this good fortune but, as smartphone sales slow and margins are squeezed, what happens next for these companies?

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