Horseman Capital Recommends Short Exposure Into Japan's "Iron Coffin Lid"

Horseman Capital’s Shannon McConaghy looks at what he sees as “hyperbole from the sell-side” creating an “excitement” over Japanese stocks. But don’t be fooled by the “extreme” hype, he writes in an October 2017 note to investors, ( the date is not intentional but is perfectly timed for Halloween). The time to outright short Japanese stocks is here, he says.

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Japan's stock market has been hot of late

From 2009 to 2013, Japan’s Topix stock index traded in a range from near 700 to 1,000 but has since gone on a tear, quickly moving...