The man betting on spectacular doom:In 2011, Russell Clark took over hedge fund Horseman Global. The $3.2 billion fund he inherited sank a staggering 96%, to $111 million, in just two years as clients withdrew their money. It had shrunk so much that it was barely economical to run. Clark concluded in 2012 that if he didn’t become a short seller, there was no reason for clients to pay him the kind of fees hedge funds charge.Now, he’s betting everything on a spectacular, earth-shattering market crash that he believes is just around the corner.
“This could be my farewell interview,” he says. “But if my views are correct,” he says, “it’s not going to be good for anyone else.”
“This could be my farewell interview,” he says. “But if my views are correct,” he says, “it’s not going to be good for anyone else.”
