Fleckenstein To Start $200M Short-Only Fund Early Next Year

Hedge fund manager Bill Fleckenstein has decided to start another short-only fund early next year, citing “really stupid valuations,” reports Juliet Chung for The Wall Street Journal. Fleckenstein shut down his profitable short-only fund in 2009, but now he wants to build up $200 million so that he has money on hand as opportunities present themselves.

Bill Fleckenstein on stock bubble

“I want to wait until I can have it be more like shooting fish in a barrel, which doesn’t happen very often–but it happens,” said Fleckenstein. “It happened in early...