So Much for Shorting
Many long-short managers, particularly those affiliated with Tiger Management, have had problems with their short portfolios, the very thing that was supposed to redeem them in turbulent markets.
When the going gets tough, long-short managers hedge. This means shorting.
After all, throughout the more than six-year bull market following the financial crisis, hedge fund managers have been reminding us that they can’t keep up with the surging stock market indexes, since they also have some exposure on the short side.