A Controversial Hedge Fund Manager Plots a Major Strategy Shift

Russell Clark’s Horseman Global has moved from a disinflationary to inflationary posture.

London, England. (Jason Alden/Bloomberg)

London, England.

(Jason Alden/Bloomberg)

Horseman Capital Management, the London-based hedge fund whose long-term bearish stance has led the firm to stunning gains and stinging losses over the years, has dramatically changed its strategy in light of the Covid-19 crisis.

Horseman chief Russell Clark tells clients he is exiting his deflationary positions in favor of a portfolio designed to benefit from rising inflation, according to his March monthly letter, obtained by Institutional Investor.

To continue reading, subscribe now to Premium Journalism. Already a subscriber? login.