Horseman Global Loses On Currencies And Short Bets In May

Horseman Global has been betting against the markets this year, but despite that, the fund's managers have been able to pull out a year-to-date win through the end of May. Horseman was down 0.8% for May, the second losing month in a row, but the fund's performance in the first quarter was so strong that two months of losses haven't pulled it into the red for 2018 yet.

Losses on shorts, currencies more than offset gains on longs, bonds

Although Horseman was down for May, the decline was better than April's decline of 2%. In January, February and March, the fund gained 5.53%, 0.89%, and 0.8%, respectively, resulting in a year-to-date gain...