Hedge fund manager Russell Clark’s worldview is starting to materialize, and if it does investors in the developed world might do well to take cover. The manager of Horseman Capital Management, characterized as “the world’s most bearish hedge fund manager,” turned bullish, is starting to see his short exposure pay off. Not just in shale – his negative trade du jour – but some of what Clark is seeing in the emerging markets is playing into his bearish worldview just perfectly.
Bond prices have been trending alongside oil for the past few years, Clark noted in an August letter to investors reviewed by ValueWalk. When bond prices rise or fall, it is often correlated...
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