Zero Hedge has a story out on the woes of what it calls the world’s most bearish hedge fund, called Horseman Global.The fund’s manager presents an investment thesis of sorts, but I think any investor with merely ordinary sophistication can understand why they should stay clear of this or similar funds. This brief podcast (4:07) argues that history amply demonstrates that markets climb higher. A short fund denies the force of persistence in markets and sets up its investors for disaster.
