• 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 1.2bn as at 31st May 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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  • 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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  • Russell Clark
    Portfolio Manager

    May 2018 Is US Growth Peaking?

    “While currently both consumer and business confidence are strong, we have started to see some data points that US consumers are starting to pull back from consumption. This could mean that US growth is peaking.”

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  • Russell Clark
    Portfolio Manager

    May 2018 US 10 to 30 Year Treasury Spreads Are Too Narrow

    “The spread between 30 year and 10 year US bond yields is nearing record lows. This means that the 30 year yield is too low, or the 10 year yield is too high – but which is it?”

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  • Russell Clark
    Portfolio Manager

    April 2018 Japanese Banks as a Lead Indicator

    "After the financial crisis other banks withdrew from lending into international markets, and Japanese banks grew their share yet again. For context, Japanese claims of 3 trillion USD compare to 2 trillion for US banks. Or as a share of GDP, 60% for Japan, compared to 12% for the US."

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  • Shannon McConaghy
    Portfolio Manager

    April 2018 Ohh No Mr Roboto

    “Major growth drivers behind enhanced robot sales this decade, such as Chinese auto sales, the robotization of its auto plants and global smart-phone sales, are stalling. Meanwhile, Chinese robot suppliers are being supercharged by the state to take on foreign robots. It appears that heightened expectations in robot themed stocks, which are often traditional machinery stocks, may be flawed.”

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