In a Tough Environment, Some Hedge Funds Remain Committed to Shorting

Tybourne’s hedge fund shutdown highlights the risks and challenges of betting that stocks will decline in a bull market.

Eashwar Krishnan (Anthony Kwan/Bloomberg)

Eashwar Krishnan

(Anthony Kwan/Bloomberg)

Tybourne Capital’s decision to shutter its long-short fund doesn’t come as much of a surprise. After all, shorting has been a losing game for many investors since the recent bull market began in March 2009.

Yes, there have been sharp corrections along the way, as well as the brief bear market induced by the pandemic in the spring of 2020.

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