• 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 900m as at 31st January 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 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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  • Russell Clark
    Portfolio Manager

    November 2018 Price War

    "While defense stocks have been great outperformers, many of the tailwinds are beginning to turn to headwinds. Could a price war on the price of war be imminent?"

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  • Shannon McConaghy
    Portfolio Manager

    November 2018 JGBs May Be Attractive at -1%

    "If the Fed raises rates such that 3 month USD Libor rises by 1% then 10 year JGB yields could sink below -1% and still offer more currency hedged yield for US investors than current 10 year UST yields. This US investor ‘bonus’ comes as Japan’s investors pay an increasingly dear ‘cost’."

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