• 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 1.5bn as at 31st May 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

    May 2017 Gold, Bonds and Asian Currencies

    "The upshot of this is that gold looks better than treasuries.  However, it should be pointed out that this does not mean gold is a buy.  It only states that gold could do better than treasuries in these market conditions.”

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  • Russell Clark
    Portfolio Manager

    May 2017 The Coming Iron Ore Deficit

    “The reality is that the iron ore miners have cut capex as iron ore prices have fallen, but we are now seeing a structural increase in demand as China phases out is own mining industry and India is beginning an infrastructure build.”

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  • Russell Clark
    Portfolio Manager

    May 2017 The Capital Destructive Nature of the US Shale Industry

    Ultimately, the US fracking industry has become an industry that transfers wealth from capital providers to land owners.

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  • Russell Clark
    Portfolio Manager

    May 2017 Emerging Market debt looks more attractive than US high yield

    "The KDP High Yield Index is currently yielding a little more than 5%, close to its lowest yield of all time.”

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  • Russell Clark
    Portfolio Manager

    April 2017 The End of Chinese Yuan Bear Market?

    “What I find interesting is that the currencies of countries with strong trade links to China, namely Taiwan and Singapore, were good early signals to an imminent Chinese devaluation in 2014.  These currencies, and particularly the Taiwanese dollar have strengthened considerable recently.”

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